President Trump is threatening to hit the European Union with a trade investigation over fines that the bloc imposed on U.S. tech companies.
Mr. Trump, writing on Truth Social Friday, said a Section 301 probe could lead to retaliation in the form of tariffs or other penalties.
The president is particularly upset about a $3.5 billion penalty the EU just imposed on Google.
EU regulators said Google, a major tech company and search engine giant, violated its antitrust rules by favoring its own online advertising technology services over competitors’ services.
“This is on top of the many other Fines and Taxes that have been issued against Google and other American Tech Companies, in particular. Very unfair, and the American Taxpayer will not stand for it!” Mr. Trump wrote in his social media post.
Mr. Trump said he is concerned about similar fines levied against Apple.
“They should get their money back! We cannot let this happen to brilliant and unprecedented American Ingenuity and, if it does, I will be forced to start a Section 301 proceeding to nullify the unfair penalties being charged to these Taxpaying American Companies,” Mr. Trump wrote.
The president castigated Europe one day after he met with Big Tech executives at the White House. Leaders in the tech sector are currying favor with the administration, particularly in the pioneering artificial-intelligence space.
Mr. Trump has jostled with tech companies over their overseas operations, saying they should bring production and jobs to the U.S, but he’s defending them against foreign taxes and penalties.
He is particularly concerned about digital services taxes, which are levies on the gross revenues of U.S. tech companies operating in a certain country.
Mr. Trump got Canada to rescind its digital services tax. But the EU has said it has the “sovereign right” to “regulate our economic activities on our territory that are consistent with our democratic values.”
