Trump’s win will test the EU’s tech crackdown on Musk’s X

The EU can levy fines of up to 6 percent of X’s annual global revenue — and the final figure could be hefty, since the Commission is considering calculating the penalty from income derived from Musk’s other companies, including SpaceX and Neuralink.

The Commission now finds itself between a rock and a hard place over how it polices U.S. Big Tech.

The EU already has a raft of investigations into tech firms for not complying with its new digital rules. It needs to show that it’s willing to back those threats with muscle, in the form of financial penalties or ordering companies to change what they do.

Taking advantage

Trump vowed last month not to let the EU “take advantage of our companies,” saying Apple CEO Tim Cook had called him to complain about an EU antitrust fine and back-tax order. There may soon be more to complain about, as Apple is set to get the EU’s first fine for not complying with digital competition rules, Bloomberg reported.

Musk courted Trump like no other, putting at least $119 million into a campaign group, according to the New York Times, and even offering daily $1 million checks for voters who signed a petition. He said this week that he was willing to spend even more to counter funding from progressive sources. His overhaul of Twitter, which he renamed X, has turned the platform into a right-wing haven.

European lawmakers urged the EU executive not to back down.