Subj : Trump blasts EU regulators for targeting Meta, Apple and other US
To   : All
From : TechnologyDaily
Date : Fri Jan 24 2025 11:15:06

Trump blasts EU regulators for targeting Meta, Apple and other US tech giants

Date:
Fri, 24 Jan 2025 11:02:12 +0000

Description:
Trump brands EU fines as "taxation" in ongoing feud with the world's largest 
single market area.

FULL STORY
======================================================================Trump 
has hit out against EU fines against US companies The new President has said 
that the fines are "a form of taxation" Apple, Meta, and Google are all 
currently facing large EU fines 

Following Meta CEO Mark Zuckerbergs plea to newly inaugurated President Trump 
to stop US companies from paying European Union fines , Trump has lashed out 
at the bloc, branding the fines as a form of taxation. 

Meta has faced $2.67 billion in General Data Protection Regulation (GDPR) 
fines alone since 2022 for a number of reasons, including failing to ensure 
information security, not having a legal basis for data processing and 
general non-compliance with GDPR. 

GDPR was introduced to the EU in 2018 and is designed to give EU citizens 
more control over what data can be collected, who can process their data, and 
ensuring it remains secure when processed outside of the EU. Big complaints 
with the EU 

Speaking at the World Economic Forum in Davos, Trump said (via Bloomberg ), 
These are American companies whether you like it or not. They shouldnt be 
doing that. Thats, as far as Im concerned, a form of taxation. We have some 
very big complaints with the EU. 

Many of the world's richest men and owners of tech conglomerates, including 
Zuckerberg, Jeff Bezos, and Tim Cook were in attendance at Trumps 
inauguration, with all of the aforementioned donating seven figure sums to 
Trumps inauguration fund. Elon Musk, owner of X (formerly Twitter), 
reportedly spent upwards of $277 million to help get Trump elected. 

Apple, Meta, and Google have all faced large fines for violating EU 
regulations in the past, with the European Commission today completing an 
initial probe into X with a fine in the million dollar region likely to be 
levied against the social media platform. 

In 2023, Meta was hit by a $1.3 billion fine for transferring EU user data to 
the US. Google had to pay a $1.6 billion fine for anti-competitive policies 
in 2019. Apple faced a $2 billion fine for abusing the app store to limit 
music streaming services from competing with Apple Music. 

All three companies are currently facing EUs Digital Markets Act 
investigations, with violations resulting in a fine as high as 10% of global 
annual revenue. It is worth noting that the US has no comprehensive federal 
data privacy regulation, with only 20 US states currently enforcing a 
state-level regulation for data protection. You might also like Get your data 
off the internet with the best data removal services Protect who you are with 
the best identity theft protection Google hit with another major 
anti-competition lawsuit, could be forced to break up ad business



======================================================================
Link to news story:
https://www.techradar.com/pro/trump-blasts-eu-regulators-for-targeting-meta-ap
ple-and-other-us-tech-giants


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