this post was submitted on 20 Jan 2025
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There will be no fines. There won't be any compliance to EU laws. Why do you think all the tech ceo went to kiss the ring of Trump this last month. No American based tech company will comply with EU laws because trumps government will protect them so they will spread his propaganda in exchange. America has sold its soul to the devil and with open eyes.
Trump will allow them to repatriate their cash tax free bumping American banks liquid cash on hand while also draining European banks of trillions of dollars.
Yall ain't winning this one.
That's because the US tiktok market did 10 billion last year in revenue while the rest of the global revenue was roughly 8.5 billion. That's why they give a shit about our market more than their other markets. There's no power fantasy in the US it's power reality. They would drop the Europeans in a hot second if they were forced to choose. Not to mention our market is a free for all and the EU is heavily regulated and increasingly introducing new regulation that makes business hard for them.
Not really sure why we are talking about tiktok in an article about Google. Also you ignored the main point of my post which is how does the EU plan to collect fines. If Google, meta, et all withdraw cash from it's European tax haven bank accounts.
how they plan on collecting fines is pretty simple: the same way they have done for the past 20-ish years.
google already pays fines in the hundreds of millions annually in the EU due to compliance issues.
they can't NOT pay, because then they would be opening themselves up to punity actions.
if they continue to pay, they continue to operate, if they stop paying, because they mistakenly believe trump can save them, they will be treated like any other criminal organization and have their operations shut down, their assets seized, and the ones responsible facing criminal charges.
the thing about the bank accounts gets...complicated, but can be boiled down to "whatever is there, will get seized by the bank". and "withdrawing the cash" isn't really a thing they can do just like that. monetary assets in the EU for mega-corps is mostly in the form of bank agreements (i.e. debt), which is basically just contracts. so the corpos would lose out on the banking institutions on top everything else.
Let's just wait and see, then.