European reporter, Daily Dawn, Dawn TV report
BRUSSELS: The European Union has imposed a hefty fine of 2.95 billion euros ($3.47 billion) on Google, one of the world’s largest technology companies, ignoring a stern warning from US President Donald Trump.
The European Union has fined Google 2.95 billion euros ($3.47 billion) for supporting its advertising services, despite warnings from President Donald Trump not to target major US technology companies.
Google vowed to appeal the European Commission’s decision, which accused the US firm of stifling competition in the 27-nation bloc.
“Google abused its dominant position in adtech, harming publishers, advertisers and consumers, a practice that is illegal under EU antitrust rules,” said EU antitrust commissioner Teresa Ribera.
Trump has threatened to go after Europe over its rules on digital markets and content policing, which affect US-based tech companies.
Earlier this week, antitrust commissioner Teresa Ribera put the fine on hold, apparently out of fear of US retaliation.
The EU is still waiting for the US to deliver on its promise to reduce tariffs on cars under a trade deal struck in July.
Brussels ordered Google to end its “selfish behavior” and take steps to address its inherent conflicts of interest.
Teresa Ribera said that “Google has 60 days to inform the commission how it intends to do this.”
She said that at this stage, it appears that the only way for Google to effectively eliminate its conflict of interest is structurally, such as selling part of its ad tech business.
Google said that the commission’s decision was “erroneous” and that it would appeal.
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