EU policy with tech companies ‘don’t just target America’


In an interview with the Financial Times published on Sunday, European Union Antitrust Commissioner Margrethe Vestager stressed that the European Union’s “Digital Markets Law” would not target US technology companies only. Vestager clarified that the measure does not target specific businesses or nationalities.
She added that the bill, which the European Parliament plans to debate, focuses on the market effects of the dominance of tech giants over smaller competitors.
Last December, the European Commission made wide-ranging proposals to expand its power over giant technology companies, allowing them to be fined up to 10 percent of their total turnover or even split into more than one company in case they abuse their monopoly position in the market. .
The European Commission revealed two bills to deal with technology companies; the first is a digital services bill that sets general rules for the work of Internet companies. In the event of a violation of this law, a fine of up to 6 percent of the total volume of its business worldwide may be imposed on the company.
The second draft law is the “Digital Markets Law” and it targets all the giant digital companies whose platforms act as gatekeepers and connect small sellers or online service providers with customers. The law seeks to prevent these giant companies from abusing their controlling position.
In the event of a violation of the law, the Commission can impose a fine on the company of up to 10 percent of its total turnover worldwide.


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