Trump to appeal tariff ruling, warns of economic consequences
Investing.com -- Apple Inc (NASDAQ:AAPL). and Meta Platforms Inc (NASDAQ:META). are expected to face fines under the European Union’s Big Tech competition regulations by the end of next week. In addition to this, Apple, the iPhone manufacturer, is also under threat of repeated penalties under the EU’s Digital Markets Act.
According to individuals with knowledge of the situation, the EU regulators are likely to impose relatively small fines on these two American tech companies, when compared to antitrust penalties from the past. This action is perceived as an effort by the EU to enforce its digital regulations, while simultaneously trying to avoid escalating tensions with US President Donald Trump.
President Trump has previously warned that he would retaliate with substantial tariffs if the penalties against American tech firms were seen as "disproportionate". The upcoming fines against Apple and Meta are, therefore, expected to be cautious in nature, in order to maintain a balanced international relationship.
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