MEPs approve bill targeting US tech giantsReading Time: < 1 minutes
EU lawmakers overwhelmingly adopted a position in favour of the Digital Markets Act on Wednesday, which would put constraints on “gatekeeper” tech companies such as US tech giants Amazon, Apple, Facebook, Google and Microsoft. MEPs voted 642 in favour and 8 against, with 46 abstentions.
Under the new rules big tech companies would no longer be able to buy out smaller ICT startups, thereby stimulating innovation. Consumers would also get more choice regarding applications on new devices, would would not default to “proprietary” big tech systems. The new regulations would also aim to prevent users being signed up for new services deceptively.
In the final stage required for adoption of the new regulations, the European Parliament and EU Council will negotiate the specifics of the Act early next year. The European Commission will reportedly assemble an 80-member team to monitor compliance and look into possible violations – although observers say this number may be insufficient for policing the law after it is adopted. US officials reacted to the news that these new rules could unfairly target American tech firms.