EU regulators have compiled a “hit list” of as many as 20 major Internet companies, likely to include giants such as Silicon Valley, Facebook and Apple Pal, which will be subject to new and stricter rules to control their market power.
Under the plans, large platforms that see themselves on the list will have to adhere to stricter regulation than smaller competitors, according to people familiar with the discussions, new rules that will force them to share data with competitors and force them to be more transparent. How they collect information.
The list will be compiled based on a number of criteria, including market share and number of users, which are likely to include Facebook and Google’s likes. It is considered so powerful that competitors cannot trade without using their platform.
The move to acquire new powers is part of a growing effort in Brussels to force large technology companies to change their business practices without a thorough investigation or finding out if they have broken existing laws.
It follows complaints that the current regulatory regime has resulted in poor and delayed action, which has done little to increase competition.
The exact criteria for the number and listing of companies are still being debated, but it is a recent indication of how serious the EU is about coming up with powers to limit the power of the platform, which is seen as “too big for care”.
“Plenty of market power of these platforms is not good for competition,” said a person with a close knowledge of discussions.
The proposals, which are still being discussed among senior EU officials, could be the end of the goal of reducing the power of the platform by becoming part of the new regulation that is believed to have played a role as a gateway.
As part of the powers, the EU only wants to move beyond penalties, which are often seen as just the cost of doing business. Instead, Brussels wants to be able to move quickly to force the likes of Amazon and Apple Paul, so make sure they give competitors access and share data with those competitors.
In extreme cases, the EU will try to solve structural problems, break up Big Tech, or force units to sell if companies appear to be behaving at a loss to competitors.
The debate erupted in the U.S. There will be a massive push towards Big Tech, a debate that will be seen as controversial and will increase tensions between Washington, Washington and Brussels, say people familiar with the discussions.
The European Union’s new trade chief, Valdis Dombrovkis, has called on the US to prepare for additional levies on European exports until it withdraws more than b 7bn of punitive tariffs on EU products, in a sign of summer trade tensions.
The pressure for new rules and new powers in Brussels is preparing to face fierce opposition from the big dominant platforms, but the political momentum for the EU to control Big Tech is growing.
The EU is also preparing a proposal to change the bloc’s Internet rules, the first such exercise in two decades. Proposals for the new Digital Services Act are expected in early December and they will try to increase the platform’s liability when it comes to polishing illegal content or products sold illegally.
“As far as we know, the internet is being destroyed,” said another person with direct knowledge of Brussels’ plans. “Big platforms are aggressive, they pay little tax and they destroy competition. This is not the internet we wanted. “
The pressure to stop Big Tech Power goes beyond Brussels.
The UK’s Competition and Markets Authority wishes to have the authority to verify digital mergers that often fall below the threshold required for verification.
A U.S. congressional report says big technology has abused its market power, suggesting that big platforms should completely restructure their businesses.
