EU should focus on top 5 tech giants in digital markets law negotiations, says MEP
EU lawmaker Andreas Schwab, who will lead the debate on the EU’s flagship technology regulation, called for a focus on the top 5 US giants.
The EU is in talks on how to be tougher on big tech and in particular Google, Apple, Amazon, Facebook and Microsoft, as they have repeatedly caused competition policy problems of the block.
Last December, Brussels unveiled its intention to tackle the market power of Big Tech with its digital markets law. There are currently 20 companies that would be affected by the regulation.
But in a new report, to be released on Monday, Schwab called for higher thresholds of € 100 billion in market capitalization, instead of € 65 billion in the original proposals, and € 10 billion in figure. business over the past three years, instead of 6.5 billion euros.
He also called for more transparency on the part of these companies. Businesses should describe the ways they make money from online advertising.
“Let’s focus on the biggest problems first, the biggest bottlenecks. Let’s go further – one, two, three, four, five – and maybe six with Alibaba, ”he told the Financial Times.
“But let’s not start with number 7 to include a European tech giant just to please [US president Joe] Biden, ”he added.
“The scope of the [Digital Markets Act] should clearly target those companies, which play an indisputable guardian role due to their size and impact on the domestic market, ”the report says.