EU Antitrust Fines Ignite Transatlantic Tensions

The White House has condemned EU's recent fines on Apple and Meta, labeling them as economic extortion. The fines were imposed under the Digital Markets Act to reduce Big Tech's dominance. This move has sparked tensions with the U.S., which views the legislation as discriminatory against American companies.

The White House has denounced European Union's recent fines on tech giants Apple and Meta as a 'novel form of economic extortion' that the United States 'will not tolerate.'

The EU imposed penalties of €500 million on Apple and €200 million on Meta, marking the first sanctions under new legislation aimed at dismantling Big Tech's dominance.

This development could further inflame tensions between the EU and the United States, where officials have criticized the Digital Markets Act as being discriminatory against American firms and harmful to innovation.

(With inputs from agencies.)