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Trump said he would “immediately initiate a 301 Investigation” into what he called the EU’s practice of “ROBBING” US firms.
US President Donald Trump. (Image source: Reuters)
US President Donald Trump on Friday threatened to impose tariffs on the European Union and launch a formal trade investigation after Brussels fined Google $1 billion for violating the bloc’s digital competition rules.
In a post on his Truth Social platform, Trump said the EU “will pay a very big price” for what he called “illegal and highly unethical conduct” against American companies.
“The European Union will pay a very big price for this illegal and highly unethical conduct, which I have consistently warned them about,” the US president wrote.
Trump said he would “immediately initiate a 301 Investigation” into what he called the EU’s practice of “ROBBING” US firms. He also warned that a “substantial TARIFF” on the bloc could come “at the earliest possible moment.”
“The United States of America is not a “PIGGYBANK” for Europe, nor will we allow it to be,” Trump wrote.
A Section 301 investigation allows Washington to examine foreign trade practices it considers unfair and take retaliatory measures, including imposing tariffs.
The threat came a day after the White House announced new tariffs ranging from 10 per cent to 12.5 per cent on around 60 trading partners, including the EU. The measures also relied on Section 301 of the 1974 Trade Act.
(With inputs from agencies)
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