Trump threatens tariffs on EU over fines imposed on US tech companies

President Donald Trump on Friday threatened to impose tariffs on the European Union after accusing the bloc of unfairly targeting major US technology companies with multibillion-dollar fines.

In a post on Truth Social, Trump cited penalties imposed on Apple, Meta, Amazon and Google.

"The European Union will pay a very big price for this illegal and highly unethical conduct," Trump wrote.

Trump said his administration would "immediately initiate a 301 Investigation" into what he described as the EU's practice of "robbing" American companies and US taxpayers.

He also said the penalties imposed by the EU "will be entirely reversed" and that his administration expects to impose "a substantial TARIFF" on the European Union "at the earliest possible moment."

Section 301 of the US Trade Act of 1974 authorizes the US Trade Representative to investigate foreign trade practices deemed unfair or discriminatory and, if warranted, recommend retaliatory measures, including tariffs.