President Donald Trump says his administration will open a formal investigation into the European Union’s trade practices, threatening new tariffs over billions of dollars in fines leveled against U.S. tech companies.
In a Truth Social post on Friday, Trump said the investigation would begin “immediately” under Section 301 of the Trade Act of 1974, which allows the president to protect U.S. businesses against unfair trade practices with tariffs and sanctions.
He accused the EU of “robbing” U.S. companies and, in turn, American taxpayers.
“The European Union is at it again and, as usual, taking direct aim at GREAT American Companies!” Trump wrote, referring to European enforcement actions over recent years against Google, Apple, Meta, and Amazon….