"President Donald Trump has sparked a fresh trade war with the European Union, claiming that American tech giants are facing unfair taxation. The President unleashed his fury on Truth Social regarding a multi-billion dollar penalty slapped on Google by the EU, "effectively taking money that would otherwise go to American Investments and Jobs." Trump wrote, "This is on top of the many other Fines and Taxes that have been issued against Google and other American Tech Companies, in particular.""
"In his fiery tirade, Trump disclosed that he would initiate a Section 301 "proceeding to nullify the unfair penalties being charged to these Taxpaying American Companies." Section 301 relates to the US Trade Act of 1974, which empowers the president to secure the elimination of any act, policy, or practice of a foreign government that breaches an international trade agreement, reports the Express. The Trump administration previously deployed Section 301 against China in March 2018 during his first presidency."
EU regulators ordered Google and parent Alphabet to pay a large fine and adopt drastic measures to eliminate conflicts of interest in the advertising-technology supply chain. The action targets Google’s role in ad auctions and supply-path practices and may require structural or operational remedies. President Donald Trump criticized the penalty on Truth Social, calling it effectively a seizure of funds that should support American investment and jobs and demanding reimbursement. Trump warned he would initiate a Section 301 proceeding to nullify the penalties. Section 301, from the US Trade Act of 1974, empowers the president to counter foreign acts that breach trade agreements; it was used against China in 2018, triggering a major trade dispute.
Read at The Mirror US
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