EU Imposes $3.45 Billion Antitrust Fine on Google
The European Union (EU) has imposed a colossal fine of €2.95 billion ($3.45 billion) on Google for violating antitrust laws. The fine was announced on Friday, marking a significant move against the tech giant’s dominance in the advertising technology industry.
The European Commission has accused Google of illegally favoring its own display advertising services, causing harm to both competitors and online publishers. This fine is the fourth major antitrust penalty that Google has received from the EU in less than a decade. It also represents the second-largest antitrust fine that the EU has ever imposed against Google.
Google has responded to the decision with criticism and plans to appeal. The company’s global head of regulatory affairs has called the fine “unjustified“.
In response to the fine, President Trump has threatened potential trade actions against the EU. He criticized what he termed “discriminatory” penalties against American tech companies.
The EU has ordered Google to end its self-preferencing practices within 60 days. If Google fails to comply, it could face stronger remedies from EU regulators.
Read more about the EU’s antitrust fine against Google here.