EU dismisses concerns that regulation is anti-US

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Margrethe Vestager, head of EU digital and competition policy, doesn’t think the EU’s new policies are too focused on Americans, writes the Financial Times (FT).

The Digital Markets Act (DMA) was a source of concern. The White House recently said the EU was not interested in “engaging in good faith” with the United States on how technology platforms can be managed.

The policy sets new rules for platforms large enough that could be considered “gatekeepers”. Vestager said the proposed legislation was intended to focus on how Big Tech’s dominance over smaller companies has affected the market.

She said the EU wanted to determine “who should be included in the scope” and said DMA was not meant to target any particular company or nationality.

His comments were apparently an attempt to calm US-EU relations after years of tumultuous leadership under President Donald Trump, FT wrote, with both sides trying to turn things around.

That said, German MEP Andreas Schwab, who will be instrumental in the adoption of DMA, said the biggest problems are with US-based tech companies. He added that China-based Alibaba was the potential “number six” after the top five US companies.

The Biden administration has come under pressure to be tougher with EU plans to regulate big tech, with US digital commerce caucus co-chairs saying the new legislation could potentially hurt US businesses further. than those of other countries.

PYMNTS recently reported on the US National Security Council (NSC), which called on the EU to reduce its targeting of US tech companies.

“We are particularly concerned by the recent comments by the European Parliament’s rapporteur on the Digital Markets Act, Andreas Schwab, who suggested that the DMA should undoubtedly target only the five largest US companies,” the report said, according to a June 9 email seen by FT.

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