EU Faces US Retaliation Over Big Tech Fines; Trump Threatens Tariffs

The European Union's resolve to regulate Silicon Valley giants faces a challenge as Donald Trump threatens retaliatory tariffs over potential fines against US tech companies. The EU's Digital Markets Act (DMA) is in the crosshairs, with Trump warning against "disproportionate" penalties. EU competition chief Teresa Ribera is under pressure to conclude investigations into Apple and Meta by March, potentially imposing significant fines. Failure to stand firm risks undermining the DMA, while heavy fines could trigger US tariffs. The EU has open cases into Apple, Meta, and Google under the DMA, with potential penalties of up to 10% of global revenue. The Digital Services Act (DSA) also poses risks for platforms like X, Facebook, and Instagram, with penalties up to 6% for noncompliance.