US May Follow EU in Crackdown on Gatekeeper Tech Companies
The US may soon follow the EU in cracking down on gatekeeper companies, as governments become increasingly wary of Big Tech.
The EU introduced the Digital Markets Act (DMA) in late March, its most comprehensive attempt to rein in Big Tech’s power. Gatekeeper companies — companies that run a “platform,” have a market cap of at least $82 billion, and at least 45,000 active users — are especially addressed by the DMA. For example, the DMA would require messaging platforms to open up and work with smaller competitors, and could even force companies to break up if they fail to comply with the legislation’s terms.
Despite many concerns about the DMA’s implications, especially in the realm of security, the US may be preparing to follow the EU’s example, according to Bloomberg, especially when it comes to mergers and acquisitions.
“The plain text of our merger laws in the United States demand that we have aggressive enforcement against acquisitions by firms that already possess a dominant position,” said Jonathan Kanter, head of the DOJ’s antitrust division.
It remains to be seen if the US will follow through, especially given the fact it tends to be more lenient on corporations than the EU. It is also unclear how far the US may emulate the DMA, and whether it would also press for interoperability clauses.
