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macroJul 24, 2026, 5:09 PM

Trump Threatens Tariffs, Launches 301 Probe Over EU Fines on US Tech Giants

President Trump says the EU has unjustly fined Apple, Meta, Amazon, and Google over $21 billion combined, and vows retaliation via a Section 301 investigation and potential tariffs.

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Former President Donald Trump said on Truth Social that the European Union has penalized major American technology firms with billions of dollars in fines, calling the practice 'illegal and highly discriminatory.'

He specifically cited fines of $15 billion against Apple, $3 billion against Meta, $2.5 billion against Amazon, and a new $1 billion fine on Google that brings the company's total EU fines to over $18 billion.

Trump stated the U.S. will immediately initiate a Section 301 investigation into what he described as 'robbing' American companies, and warned that the EU will pay a 'very big price,' including the reversal of penalties and the imposition of a 'substantial' tariff at the earliest possible moment.

The announcement escalates trade tensions between the U.S. and the European Union and signals a more confrontational stance than seen under the previous administration.

Source: First Squawk