The Trump Administration Plans on Intervening on Apple’s Behalf in the Feud with the EU

    Author Caroline HarrisPosted on Categories Trump, Politics, US BudgetTags , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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    On Wednesday, Reuters (NYSE:$TRI) reported, citing an undisclosed source, that the United States plans to mediate on Apple Inc.’s (NASDAQ:$AAPL) behalf in its feud with the European Union over its ruling that the California-based company has to pay back 13 billion euros ($14.8 billion) in back taxes to Ireland.

    “I can confirm the United States filed an application with the European Union General Court to intervene in the case involving the retroactive application of state aid rules to Apple,” said the unnamed source.

    As of right now, the Trump administration has not publicly commented on the issue.

    Apple first appealed the ruling to the Eurozone’s second-highest court in Luxembourg in December, and, according to another Reuters source, the case is scheduled for late 2018.

    On Wednesday morning, Apple’s shares increased 0.3% to $143.86.

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    Author Caroline Harris
    About the author: Caroline Harris is a third-year student at Capilano University in North Vancouver, Canada. Having already completed an Associates Degree in Psychology, Caroline is now finishing her Bachelor's degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.