Trump threatens new trade war with EU after very | Political News
President Donald Trump has begun a new trade war with the European Union following claims that American tech firms had been being taxed unfairly.
The president took to Truth Social to rant about a multi-billion greenback nice that hit Google from the EU, “effectively taking money that would otherwise go to American Investments and Jobs.” Trump wrote, “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! As I have said before, my Administration will NOT allow these discriminatory actions to stand.” The president also claimed that Apple was compelled to pay a $17 billion nice “that, in my opinion, should not have been charged — they should get their money back!”
“They should get their money back!” Trump said.”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,” he added.
In his rant, Trump revealed that he would start a Section 301 “proceeding to nullify the unfair penalties being charged to these Taxpaying American Companies.”
Section 301 refers to the U.S. Trade Act of 1974, which authorizes the president to receive the removing of any act, coverage, or follow of a overseas authorities that violates an worldwide trade settlement.
The Trump administration has used Section 301 in the past on China in March 2018 during his first time period. This set off the 2018 China-United States trade dispute.
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EU regulators ordered Google to take measures to stop “conflicts of interest” in the promoting technology provide chain, following an investigation that discovered the company had favored its own promoting companies. The European Commission also ordered Google to end its “self-preferencing practices.”
Trump’s threats have ignited new tensions between the EU and the U.S. after the nations agreed to a trade deal at the end of July to scale back American tariffs on imports from the EU.
Meanwhile, regulators have threatened to break up with Google, warning that past circumstances ending in fines and necessities for the company to stop its alleged anti-competitive practices have not labored. The EU announced that “only the divestment by Google of part of its services would address the situation of inherent conflicts of interest.”
However, Google can have the prospect to share a proposal with the regulators that they may have to assess before taking any additional motion.
The company has 60 days to share its proposals with the Commission for an “appropriate remedy.” However, Google called the choice “wrong” and said that it could appeal.
“It imposes an unjustified fine and requires changes that will hurt thousands of European businesses by making it harder for them to make money,” said a spokesperson for Google.
The penalty comes after a 2021 investigation by the European Commission discovered that Google “abused” its top place in online promoting, favoring its own promoting at the expense of rival publishers.
“There’s nothing anticompetitive in providing Âservices for ad buyers and sellers, and there are more alternatives to our services than ever before,” said Google in a assertion.
Rubbing Elbows
Trump’s protection of Google comes just a day after he fawned over co-founder Sergey Brin’s girlfriend at a White House dinner on Thursday.
During the gathering, the president addressed Brin instantly, saying, “Sergey, you were saying a lot at the Oval Office. I figured you’re somebody that likes to speak with his really wonderful MAGA girlfriend.”
Brin’s girlfriend, Gerelyn Gilbert-Soto, laughed at the president’s feedback before Trump requested if she “would like to say a fw words?” Brin turned to her and requested, “Well, babe, do you want to say something?”
Gilbert-Soto appeared starstruck before ultimately telling the president, “Truly every time I’m here or in your presence, I’m so grateful, so thank you. It’s like, I can’t believe it every time, like the inauguration here. I think you’re doing amazing work.
“Thank you very a lot,” said Trump.
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