President Donald Trump launches trade probe into the European Union to address heavy fines on American tech giants.
President Donald Trump announced on Friday that the administration will launch a formal trade investigation into the European Union. The probe follows the bloc's decision to levy a $1 billion fine on Google for allegedly violating digital market regulations. President Donald Trump accused the European Union of "robbing" American companies and taxpayers, specifically citing heavy penalties against Google, Apple, Meta, and Amazon. The administration expects the investigation to result in substantial tariffs on the 27-member bloc. While the European Commission expressed a willingness to engage in dialogue to de-escalate tensions, President Donald Trump signaled a firm stance, stating that the United States will not serve as a "piggybank" for Europe. The investigation will be conducted under Section 301 of the Trade Act of 1974, allowing the government to impose duties on practices that unfairly burden U.S. commerce. This move marks a significant shift in transatlantic relations as the administration seeks to reverse the "illegal and highly unethical" conduct of European regulators.