US EditionPublished • loading... • Updated
Report: EU regulations cost billions for American tech companies
The EU's Digital Markets Act and Digital Services Act impose $5.3 billion in compliance costs on U.S. tech firms and restrict online content, impacting American users.
- Consumers' Defense released a report finding the Digital Markets Act and Digital Services Act cost U.S. tech firms $5.3 billion and reduce content accessible to Americans.
- The Digital Markets Act targets large digital companies offering search, app stores and messaging, while the Digital Services Act imposes content rules that vary by platform size.
- Alphabet, Apple, Meta, Amazon, Microsoft and Booking Holdings are named as restricted by the Digital Markets Act, while major social media companies apply EU rules globally, industry leaders say.
- Officials and advocates demanded that policymakers use trade and enforcement tools to protect free speech and urged the Trump administration to counter the E.U.'s harmful digital rules, Sal Nuzzo said.
- The report warns those moves could subsidize domestic competitors and notes 83% of E.U. data privacy fines since 2018 have targeted American companies.
Insights by Ground AI
13 Articles
13 Articles
Coverage Details
Total News Sources13
Leaning Left2Leaning Right4Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 25%
C 25%
R 50%
Factuality
To view factuality data please Upgrade to Premium
