Trump threatens new tariffs on the EU after Google's maxi fine of 2.95 billion. The giant: 'Wrong decision, we will appeal'

Google now has 60 days to inform the Commission how it intends to proceed. For Google, advertising revenue is its main source of income by selling advertisements on its websites and apps, as well as by acting as an intermediary between advertisers who wish to place their ads online and publishers (i.e. third-party websites and apps) who can provide that space. Advertisers and publishers rely on the digital tools of the adtech sector for real-time placement of ads that are not linked to a search query, such as banner ads on newspaper websites (display ads).

"The European Commission's decision on our advertising technology services is wrong and we will appeal," said Lee-Anne Mulholland, Vice President and Global Head of Regulatory Affairs at Google, in a note. "An unjustified penalty is being imposed and changes are being demanded that will harm thousands of European companies, making it harder for them to generate profits. There is nothing anti-competitive,' the note continues, 'in providing services to buyers and sellers of advertising, and there are more alternatives to our services than ever before.

According to Google, this case concerns its third-party advertising business, not search ads. Although it represents a limited part of our business," Google reports, "this technology helps publishers to generate revenue by allowing advertisers to place ads on their websites, apps and videos, in turn facilitating access to a wide range of online content. The European Commission's investigation is based on misinterpretations of the highly competitive and rapidly evolving advertising technology sector. This unjustified sanction," Google concludes, "is just another example of Europe's disproportionate enforcement of laws against US companies.

"Today Europe hit another major American company, Google, with a $3.5 billion fine, effectively taking away money that would otherwise have gone to American investments and jobs," Trump attacks on Truth. "This is in addition to the numerous other fines and taxes issued against Google and other American tech companies in particular. Truly unfair, and the American taxpayer will not tolerate it!" the US president warned. "As I have said before, my Administration will not allow these discriminatory actions to continue. Apple, for example, was forced to pay $17 billion in fines that, in my opinion, should not have been imposed - they should get their money back!" "We cannot allow this to happen to America's brilliant ingenuity, and if it does, I will be forced to initiate Section 301 proceedings to undo the unjust sanctions imposed on these American companies," the tycoon concluded, referring to the tariffs law.

"Google has also paid, in the past, $13 billion in false claims and charges totalling $16.5 billion. How crazy is that? The EU must stop this practice against American companies, immediately!" Donald Trump writes this on Truth after threatening new tariffs on the EU, calling the ruling against Google unfair.