The White House strongly criticized the European Union’s fines on Apple and Meta, labeling them as economic extortion on April 23, 2025, in Washington, D.C.
The White House’s stance may heighten tensions between the U.S. and EU, potentially impacting transatlantic trade relations without directly affecting the cryptocurrency sector.
Apple and Meta Face EU Fines Totaling €700 Million
The EU imposed fines on Apple and Meta for violating the Digital Markets Act. The fines amount to €500 million and €200 million respectively, following a year-long investigation by the European Commission.
The White House condemned these actions as economic extortion, asserting that the EU’s Digital Markets Act unfairly targets U.S. companies and may stifle innovation. Both companies are expected to appeal the fines.
Potential U.S.-EU Trade Tensions Looming
Industry observers note that while technological and regulatory impacts are immediate, the broader financial implications remain uncertain. Despite criticism, the EU remains committed to enforcing the DMA.
Past instances reveal historical trends where antitrust fines impacted market perception, though not always directly affecting financial metrics immediately. Analysts predict potential trade tensions could emerge between the U.S. and EU.
EU’s History of Fining U.S. Tech Giants
The EU has a consistent history of imposing fines on U.S. tech giants for non-compliance with antitrust regulations. Previous targets, such as Google, faced similar penalties, highlighting the EU’s tough regulatory stance.
Economic experts suggest that such fines may shape future regulatory frameworks. Kanalcoin analysis indicates potential adjustments in trade policies could ensue, reflecting historical precedents when similar fines were imposed.
“This novel form of economic extortion will not be tolerated by the United States. Extraterritorial regulations that specifically target and undermine American companies, stifle innovation, and enable censorship will be recognized as barriers to trade and a direct threat to free civil society.” — White House Spokesperson, U.S. Government. Source
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