Trump Slams EU's Antitrust Battles with American Tech Giants
In a virtual address at the World Economic Forum in Davos, President Trump criticized the European Union (EU) for its antitrust actions against U.S. tech companies. He claimed that the billions of dollars in fines imposed by the EU amount to a "tax" on American corporations.
Trump specifically cited instances of the EU fining Apple, Google, and Meta for alleged antitrust violations. He argued that these companies, while not universally beloved, are nonetheless American companies and should not be subject to such treatment.
The EU has been actively pursuing antitrust cases against American tech companies for years. Notably, Apple was fined €13 billion in back taxes owed to Ireland, and €2 billion for allegedly abusing its dominant position in music streaming distribution. Google has faced penalties for using its price comparison tool to disadvantage European rivals and is currently involved in a long-running antitrust case over its Android operating system. Meta was fined €797 million for breaching antitrust rules through its Facebook Marketplace service and €1.3 billion for violating data protection regulations.
Amazon and Microsoft have also been targeted by the EU. Amazon was threatened with antitrust fines of $47 billion and forced to alter its business practices. Microsoft is currently facing antitrust objections for tying its Teams software to its productivity suites.
Trump's comments highlight the ongoing tensions between the U.S. and the EU over the regulation of tech companies. The U.S. is also pursuing antitrust actions against its own tech giants, with the Department of Justice filing lawsuits against Google, Apple, Amazon, and Meta.