The European Union regulators are setting up new stricter policies for 20 large internet companies, including U.S technology giants, Apple, Google, and Facebook. The fondness of Apple, Google, and Facebook has to face a drawback on the new EU hit list that designs to deter their demand power and heighten rivalry.
Inclined with the plan, the large platforms and social media outlets on the list should have to comply with stringent regulation than portable competitors. It comprises new decrees that will urge them to share its data and be more transparent about how their system works.
These are the few and new rules that aimed to limit their market power. In contrast, the other proposals are still in the deliberation process to most of the senior EU officials. Despite a lack of pieces of evidence for breaking existing laws. The uproar rules and restrictions are part of Brussels’ growing action to push big technology companies to transform their business practices.
The list will push new leverages in Europe that would heavily add trade tensions between Washington and Brussels to encounter intense hostility from the big dominant platforms. However, the EU’s political force is currently evolving to control the tech giants.
According to Valdis Dombrovskis, the European Union’s new Trade Chief, U.S should prepare for additional taxes on the exporting process to Europe unless it revokes punitive tariffs on more than $7bn of EU products.
As the aspect of superiority, they will also pursue to move quickly to obtain access to Apple and Amazon. Ensuring they will directly give the data to competitors for transparency and share with rivals. The EU also prepares draft schemes for an overhaul of the internet rules.
The Proposals for the new Digital Services Act are expected to be discussed early in December. It will seek to boost the giants’ platforms’ accountability to ease the spread of illegal content and to specify product online selling.
While the number of companies and the detailed criteria for the roster is still in process, it is proof of how the EU prefers to limit online platforms and privacy. However, the EU is facing structural problems, as they break big tech by urging the listed companies to trade their units to the detriment of competition.
➡ Looking to get featured on Future Sharks?
