US demands EU antitrust chief clarify rules reining in Big Tech
US House Judiciary Chairman Jim Jordan is demanding that EU antitrust chief Teresa Ribera explain the enforcement of the EU's Digital Markets Act (DMA), expressing concern that the regulations disproportionately target American companies. Jordan's request follows a memorandum from former US President Donald Trump, who warned of increased scrutiny of EU digital regulations affecting US tech firms.
The DMA aims to create a level playing field in the digital market by setting rules for major tech companies like Alphabet, Amazon, Apple, and Meta. Jordan argues that these rules impose burdensome regulations on companies and could give European businesses an unfair advantage. He also criticized the potential fines of up to 10% of global annual revenue for DMA violations, suggesting they could be a way for Europe to tax American companies and compel them to adhere to European standards globally.
via SCMP Full Text Feed
US House Judiciary Chairman Jim Jordan is demanding that EU antitrust chief Teresa Ribera explain the enforcement of the EU's Digital Markets Act (DMA), expressing concern that the regulations disproportionately target American companies. Jordan's request follows a memorandum from former US President Donald Trump, who warned of increased scrutiny of EU digital regulations affecting US tech firms.
The DMA aims to create a level playing field in the digital market by setting rules for major tech companies like Alphabet, Amazon, Apple, and Meta. Jordan argues that these rules impose burdensome regulations on companies and could give European businesses an unfair advantage. He also criticized the potential fines of up to 10% of global annual revenue for DMA violations, suggesting they could be a way for Europe to tax American companies and compel them to adhere to European standards globally.
via SCMP Full Text Feed
