Trump says EU is not in line suing U.S tech companies


    U.S. President Donald Trump called the actions of suing U.S. technology companies by the European Union as out of line, as he said on Wednesday that the taking legal actions against U.S. companies like Alphabet Inc’s Google and Facebook should not be the purview of European Union but of the United States.

    In an interview with Fox Business Network, Trump, without naming Margrethe Vestager, EU’s competition commissioner, but referring apparently to her said that “she hates the United States perhaps worse than any person I’ve ever met”. Vestager’s office declined to comment on those remarks.

    In recent years, EU’s Competition Commission came up with a stronger stance against Google, handing the company down three penalties of worth more than $9 billion.

    Google, in 2017, in order to settle the claims of unfair business operation at its shopping platform, had agreed to pay $2.7 billion as part of the deal with the EU, whereas in March, the tech giant faced fine of $1.7 billion in a case claiming the company of being involved in adopting illegal practices in its search advertisement brokerage business during the time span between 2006 and 2016.

    What she does with the United States is that she is suing all the U.S. companies, rather the United States  should be suing Facebook and Google and all other companies, which the U.S. is likely to be doing, said Trump, adding that the EU is suing Apple for billions of dollars and is suing every U.S. company.

    Trump, who repeatedly complained that the way of treating the United States by the Europe over trade issue came to be worse than the China’s, said that doing business bilaterally has been made almost impossible by the EU.

    But he not only reiterated his view point about the social media companies that role of those companies against the conservatives remained discriminatory, but also said that those companies should be sued.

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    I am a lecturer at the University of Economics in Bratislava, department of Banking and International Finance. I have a Ph.D. academic degree, my dissertation was focused on major markets. Commodities and stock markets are also the main focus of my research and publication activities. I have approximately 10 years of investing experiences. My investments mostly focus on small- to mid-cap companies of energy sector, financial and technology.