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by buran77
1862 days ago
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A crippling kind of fine would have to be applied by the EU, not by one country. The EU is a big enough market that withdrawing would do even more damage since the company still has to pay the fine but without a good chink of their market, which they now handed off to rivals or newcomers. Look at VW who hasn't withdrawn from the US market despite the absolutely massive fines. The difference is the US never shies away from leveraging their top position in a way the EU is simply not able to. So while the EU will leave VW out to dry when they're caught with their hand in the cookie jar, the US is all but guaranteed to apply as much pressure as it takes to protect their interests. I have seen the process repeatedly and nobody will ever be allowed to hit any US interest without massive retaliation. The proof is in front of you, there's no single instance of a major fine payed by a US company in the EU. The largest fine was the one applied to Apple (~$15bn), it's still being contested, and Apple pretty much just agreed to pay a part of the taxes they owed instead (not all, and not the fine). The fine FB got for the way they lied about the WhatsApp deal was... $122m. |
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