US calls EU fines on Apple and Meta 'economic extortion'

WASHINGTON (Reuters) -The White House said on Wednesday that fines on Apple and Meta Platforms by the European Union were a "novel form of economic extortion" that the United States will not tolerate. Apple was fined 500 million euros ($570 million) on Wednesday and Meta 200 million euros, as EU antitrust regulators handed out the first sanctions under landmark legislation aimed at curbing the power of Big Tech. The fines were seen as a development that could stoke tensions between the EU and U.S. President Donald Trump who has threatened to levy tariffs against countries that penalize American companies.