US trade chief says EU fine on Google creates trade uncertainty

Investing.com -- U.S. Trade Representative Jamieson Greer said today that the $1 billion fine imposed on Alphabet's Google by the European Commission creates trade uncertainty.

"The EU often claims that it is looking for stability and predictability in our trading relationship, but these actions are driving massive uncertainty for U.S. exports of goods and services to Europe," Greer said in a statement.

Greer added it is "clear that the EU continues to target the most competitive U.S. companies."

The trade representative said the U.S. is "trying to resolve our concerns with the EU's Digital Markets Act and other actions through responsible, constructive dialogue," but noted that "EU's recent actions undermine these efforts."

Earlier today, the European Commission announced a fine of €890 million ($1 billion) against Google for breaches of the Digital Markets Act.

The Commission issued two separate fines: €460 million for self-preferencing Google's own services on Google Search, and €430 million for restrictions on businesses directing consumers to alternative purchase channels on Google Play.

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