EU Tech Battles Spotlight Trump's Favorable Stance
European Antitrust Actions
President Trump has criticized the European Union's antitrust cases against US tech giants, labeling the fines as a "tax" on American corporations. The EU has levied substantial penalties against companies such as Apple, Google, and Meta for alleged antitrust violations.
Apple
* Fined €13 billion for back taxes in Ireland, impacting Q4 earnings.
* Fined $2 billion in relation to its battle with Spotify for allegedly abusing dominance in music streaming.
Google
* Paid $2.7 billion for unfairly disadvantaging European services with its price comparison tool.
* Facing ongoing antitrust case over its Android operating system.
Meta
* Fined €797 million for breaching antitrust rules via Facebook Marketplace.
* Fined $1.3 billion for violating data protection regulations.
Amazon and Microsoft
* Amazon threatened with $47 billion in antitrust fines over business practices.
* Microsoft facing objections for tying Teams software to productivity suites.
US Antitrust Battles
The US government is also scrutinizing Big Tech for alleged antitrust violations.
* Justice Department has filed antitrust suits against Google (search business) and Apple (monopoly practices).
* Federal Trade Commission has filed cases against Amazon (e-commerce dominance) and Meta ("buy-or-bury" scheme).
Trump's Tech Turnaround
Despite previous criticism, Trump has received support from tech CEOs during his re-election campaign. Bezos, Zuckerberg, and Cook donated $1 million each to his inauguration.
With Big Tech seeking favor with Trump and his opposition to EU antitrust actions, the companies may face a more forgiving regulatory environment in the future.