Finance
EU Fines on US Companies Are Biggest Source of Friction, State Department Official Says
Published by Global Banking & Finance Review®
Posted on April 1, 2026
2 min readLast updated: April 1, 2026
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A U.S. State Department official, Under Secretary Jacob Helberg, identified EU fines on U.S. firms—especially under laws like the Digital Markets Act—as the main source of economic friction with Europe, complicating transatlantic economic relations.
EU fines on US companies are biggest source of friction, State Department official says
Main Developments in Transatlantic Economic Relations
By Toby Sterling
US State Department's Concerns Over EU Fines
AMSTERDAM, April 1 (Reuters) - A senior U.S. State Department official said on Wednesday that European Union fines on U.S. companies are the biggest source of friction in transatlantic economic relations, singling out the bloc's Digital Markets Act, which targets dominant tech platforms.
Impact of the Digital Markets Act
"The biggest single source of friction in the U.S.-EU relationship from an economic standpoint is the recurrent fines, very onerous punitive fines instituted on U.S. companies," Under Secretary of State for Economic Growth Jacob Helberg said on a call with journalists.
Potential for New Fines
Helberg said Washington was concerned by reports that another round of fines could be imposed on U.S. companies in the near future.
Efforts to Deepen Economic Ties
He was speaking during a visit to Europe to deepen economic ties, advance partnerships in emerging technologies and push for what Washington calls a fair regulatory environment. Helberg said he had had productive talks with the European Commission, including on European companies that play an important role in global supply chains, an area he said could offer scope for closer transatlantic cooperation."I believe we would be moving a lot faster if we didn't also have to simultaneously address the sources of friction that directly stem from the DMA," he said.
Meetings with European Industry Leaders
Helberg said he would meet with executives at Dutch chip equipment giant ASML, Europe's most valuable firm, on Thursday. He declined to answer questions on whether the U.S. government is satisfied with current U.S.-Dutch controls on ASML's exports to China.
(Reporting by Toby Sterling; Editing by Andrew Heavens and Ros Russell)
Key Takeaways
- •EU fines on U.S. tech firms—particularly under GDPR, DMA, and antitrust rules—amounted to nearly $6.7 billion in 2024, functioning as a ‘de facto tariff system’ (laweconcenter.org).
- •Over 60 antitrust cases have been brought against major U.S. tech companies by EU and national authorities, with several high-profile investigations and fines underway (cullen-international.com).
- •U.S. officials are pressing for regulatory reform, warning of retaliatory tariffs and calling for reduced regulatory burdens to maintain fair, pro-growth transatlantic investment climates (theguardian.com)
References
- Testimony on 'Anti-American Antitrust: How Foreign Governments Target U.S. Businesses' - International Center for Law & Economics
- Over 60 cases and counting: a snapshot of European antitrust enforcement against big tech
- ‘A warning not an insult’: US doubles down on criticism of Europe | US foreign policy | The Guardian
Frequently Asked Questions about EU fines on US companies are biggest source of friction, State Department official says
1What is considered the largest source of friction in US-Europe economic relations?
EU fines imposed on US companies are identified as the biggest source of friction in US-Europe economic relations.
2Who made the statement regarding EU fines and US companies?
Jacob Helberg, Under Secretary of State for Economic Growth, made the statement during a visit to Europe.
3What was the purpose of the US official's visit to Europe?
The visit aimed to deepen economic ties, advance partnerships in emerging technologies, and promote a fair regulatory environment.
4When was the statement about EU fines made?
The statement was made on Wednesday, April 1, during a call with journalists in Amsterdam.
