EU agree common position to curb US tech giants
EU member states agreed on a common position for new rules yesterday morning at a Competitive Council meeting in Brussels to curb the power of US tech giants.
The move will force countries to take a more active role in policing content that circulates on sites, and bring a sense of unity across the Union.
EU competition chief Margrethe Vestager has proposed two sets of rules known as the Digital Markets Act (DMA) and the Digital Services Act, mainly targeting Amazon, Apple, Alphabet unit Google and Facebook.
Vestager has openly aired her frustration with the lack of action taken to address big US tech, and the DMA outlined key advice for companies that control data and access to platforms.
For instance, it will enforce fines of up to ten per cent of global turnover for online gatekeepers.
In parallel, the DSA places the onus on tech giants, like Instagram, to tackle illegal content on its platform. This will have fines of up to six per cent of its global turnover for non-compliance.
The European Commission will be the main enforcer of the new rules rather than national watchdogs.
The French government takes over EU Council presidency in January, and the new rules are likely to be a key priority for its French policymakers.
Negotiations are expected to start next year, with rules adopted in 2023