Donald Trump on tech antitrust: 'There's something going on'

Donald Trump Concerned About Google and Facebook Digital Monopoly 2AP

Donald Trump Concerned About Google and Facebook Digital Monopoly 2AP

He said the European Union is "suing them all the time" in reference to a string of antitrust rulings by Competition Commissioner Margrethe Vestager, which have resulted in fines of up to $5 billion for Google.

Speaking with CNBC, Trump said "something's going on" when it comes to the concentrated power of today's tech titans.

He said it was unclear if American tech companies actually deserved the lawsuits from the European Union, which he described as "easy money" for Europe.

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President Donald Trump has never been the biggest vocal ally of big tech companies since taking office, and that trend continued this week.

It follows widespread reports last week that the Federal Trade Commission and Department of Justice have carved up oversight of the tech firms, with a view to potentially pursuing antitrust investigations. The DOJ, meanwhile, has jurisdiction over Apple and Google, with a source telling Business Insider last week that it is already looking into the latter.

Tech giant Google spent $21.7 million on lobbying efforts past year to influence lawmakers as the government and regulators sought great scrutiny from tech companies related to users' privacy and unfair market practices. "They just think this is easy money". "We're going to maybe look at it differently". "We have a great attorney general", he said later in the interview.

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Pointing to Attorney General William Barr, Trump said the United States will not file similar anti-trust lawsuits against the companies.

Another fact that he mentioned is about collusions and he said that collisions are between Democrats and these big tech companies, and the collision is expected to benefit the companies although that is not going to affect his rain in the upcoming elections. Trump also talked about Huawei and 5G. "Well, we should be doing this. Everybody said, 'If you don't have them, you can't win.' Well, I won, and I'll win again because we are doing well".

"They don't have near the capability of our geniuses in Silicon Valley that walk around in undershirts, and they're worth $2 billion apiece, okay?" he said. Democrat presidential candidate Elizabeth Warren, for instance, has spoken about breaking up tech giants for this reason.

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