U.S. President Donald Trump announced plans to investigate fines levied by the European Union against American tech companies, including Apple, Google, and Meta. Trump characterized the EU's actions as "illegal and highly unethical," vowing to reverse the penalties and institute "a substantial tariff."

Trump cited recent fines against Apple ($570 million), Meta ($840 million and $200 million), and Google ($1 billion), asserting that the U.S. will not be a "PIGGYBANK" for Europe. He stated that his administration will immediately initiate a 301 Investigation into these practices, warning that the EU will "pay a very big price." These threats follow previous warnings from Trump and the Office of the United States Trade Representative regarding the EU's targeting of U.S. companies.

This move aligns with Trump's broader focus on tariffs during his second term. The administration recently implemented new tariffs affecting goods from the UK, China, and the European Union, among others, accusing 60 countries of failing to enforce prohibitions on goods produced with forced labor. The expired 10 percent blanket tariff enacted earlier this year is being replaced by these new measures.