1 hour ago
Trump announced a formal US investigation into EU trade practices after fresh fines on American tech giants. The move sharply escalates transatlantic tensions and raises the threat of new tariffs on European goods.
Image used for representational purposes only
Washington,UPDATED: Jul 24, 2026 23:40 IST
US President Donald Trump said on Friday that the United States will open a formal investigation into the European Union's trade practices, alleging that the bloc has unfairly imposed billions of dollars in fines on Google, Apple and other American technology companies.
The announcement came a day after the EU fined Google 890 million euros, or USD 1 billion, saying the company had violated digital antitrust rules by using Google Play and its search engine to steer consumers towards its own services and apps at the expense of rivals.
In a lengthy social media post, Trump said he had warned the EU about fining US technology companies. He named Google, Apple, Meta, Amazon and others. "The United States of America is not a PIGGYBANK' for Europe, nor will we allow it to be!," he said, adding that his post should serve as notice of an immediate trade investigation "into the practice of ROBBING' American Companies and, in turn, the American Taxpayer."
Trump also said, "The European Union will pay a very big price for this illegal and highly unethical conduct, which I have consistently warned them about." In the same post, he said the penalties against the companies "will be entirely reversed" and predicted "a substantial TARIFF" would be placed on the EU "at the earliest possible moment." He ended the post by saying, "Stay tuned!"
Trump's move came a day after the White House announced double-digit tariffs on imports from more than 60 countries, accusing them of not adequately enforcing bans on goods made with forced labour. Those tariffs replace the temporary 10 per cent worldwide import taxes that Trump imposed after the Supreme Court struck down his biggest tariffs.
The new tariffs are being imposed under Section 301 of the Trade Act of 1974, which allows the president to levy import taxes and other sanctions against countries found to engage in "unjustifiable", "unreasonable" or "discriminatory" trade practices. In sum, Trump has tied the planned US investigation into the EU's trade practices to the bloc's fines on major American technology companies, while also signalling that tariffs on the EU could follow.
With PTI Inputs
- Ends
Published By:
India Today Web Desk
Published On:
Jul 24, 2026 23:40 IST
