Trump threatens to impose retaliatory tariffs
U.S. President Trump said on the 24th that the U.S. government would launch a trade investigation into the European Union and threatened to impose additional tariffs on the EU in retaliation for the EU's heavy fines on U.S. technology companies. Trump posted a post on the social media platform "Real Social" on the 24th, accusing the EU of "robbing" American companies and American taxpayers by its recent decision to fine Google. He warned that the EU would pay a "heavy" price for its actions and "we expect to impose high tariffs on it (the EU) as soon as possible."
U.S. President Trump said on the 24th that the U.S. government would launch a trade investigation into the European Union and threatened to impose additional tariffs on the EU in retaliation for the EU's heavy fines on U.S. technology companies. Trump posted a post on the social media platform "Real Social" on the 24th, accusing the EU of "robbing" American companies and American taxpayers by its recent decision to fine Google. He warned that the EU would pay a "heavy" price for its actions and "we expect to impose high tariffs on it (the EU) as soon as possible." Trump said that the United States will immediately launch an investigation into the EU under Section 301 of the Trade Act of 1974. The provision authorizes the U.S. government to investigate and take retaliatory tariff measures against actions it determines to impose an unfair burden on U.S. businesses. The European Commission announced on the 23rd that Google violated the EU's Digital Markets Act in its online search and app store operations and decided to impose a total fine of 890 million euros on it. ▌Source of this article: CCTV Financial Comprehensive