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Barchart
Barchart
Rich Asplund

Big Tech Companies Brace for EU Antitrust Clampdown

European Union (EU) antitrust regulators are preparing for a clampdown on anti-competitive practices in the digital economy and have put the world’s big tech firms on notice.  The EU today listed 22 services that fall under its Digital Markets Act, and companies including Apple (AAPL), Amazon.com (AMZN), Meta Platforms (META), Microsoft (MSFT), and Bytedance Ltd’s TikTok will have six months to adjust to the new rules or challenge them in the EU court.

The Digital Markets Act (DMA), which takes effect in March of next year, will impose a rigid regime on companies whose practices have previously resulted in billions of euros in fines and tax orders from EU regulators.  It will be illegal for certain platforms to favor their own services over those of rivals.  Also, firms will be barred from combining personal data across their different services, prohibited from using data they collect from third-party sources, and will have to allow users to download apps from rival platforms.

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