Trump threatened a Section 301 investigation into the EU over fines on US tech firms, warning of 'substantial' tariffs. Apple, Meta, Amazon, Google exposed to trade risk.
President Donald Trump threatened to open a Section 301 investigation into the European Union over fines on American technology companies, warning that the bloc could face "substantial" tariffs as retaliation.
In a post on Truth Social late Friday, Trump listed penalties the EU had imposed on U.S. firms: $15 billion on Apple, $3 billion on Meta, and a $2.5 billion fine on Amazon. He also cited a fresh $1 billion charge against Google, claiming cumulative Google penalties had exceeded $18 billion. Trump called the fines "illegal and highly discriminatory" and said his administration would act to reverse them.
Section 301 of the U.S. Trade Act gives the president power to investigate foreign trade practices that burden American commerce. Past administrations have used it to escalate disputes with China and Japan. Trump said his team would "immediately initiate" such a probe and could levy tariffs on European goods "at the earliest possible moment."
The threat arrived as transatlantic negotiations over market access and technology regulation remained sensitive. The EU has intensified enforcement of its Digital Markets Act and competition rules targeting large U.S. platforms. European officials argue the fines address antitrust violations and tax avoidance. Trump's post framed them as a concerted attack on American industry.
For investors, the question is how far the White House will go, traders said. A Section 301 case requires months of investigation and public comment before any tariff action. Trump used the tool quickly in his first term; his tariffs on Chinese goods followed an investigation that took roughly six months. An EU-focused probe could target steel, autos, or agricultural goods, creating potential ripples across global supply chains.
Apple shares slipped in early Monday trading after the news broke. The company generated about 24% of its revenue from Europe last year, according to its annual filing. Meta, Amazon, and Alphabet also face significant EU revenue exposure if tariffs expand beyond the initial fines.
European officials have not yet responded publicly. The European Commission said it had received no formal notification from U.S. trade authorities. EU trade ministers are scheduled to meet in Brussels on Tuesday for a previously planned discussion on transatlantic relations.
See stock market analysis for broader trade-war implications. Apple's EU revenue exposure is detailed on its Apple (AAPL) profile.
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