bbc_business

Trump vows to investigate EU over fining of US tech companies

📰 source: bbc_business · 💼 business

trump said the us will investigate the eu and threatened tariffs over fines on american tech companies. the threat follows google's €890m ($1bn) fine from the european commission. trump called for the fines to be "entirely reversed" and said he is initiating a 301 trade investigation, while considering "a substantial tariff". he claimed apple, meta, and amazon also face fines totaling billions. the tariff threat came one day after trump announced new tariffs on 60 trading partners, including the eu, uk, and china, of between 10% and 12.5%.

major tech companies like google, meta, apple, and amazon have donated to trump's campaign. a google spokesman said the company "worked hard to comply" with eu rules but had concerns. trump previously threatened a 100% tariff on any european country with a digital services tax. the figures trump cited for fines on apple, meta, and amazon are unconfirmed.

why it matters: trade war escalation between us and eu over tech regulation could hit global supply chains and tech stocks.

source: bbc_business
sentiment: +0.40 · impact: 0.60

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects