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US and EU work on limiting power of IT companies

The United States and the European Union would work together to limit the growing power of large tech companies. The parties may wish to adopt a uniform approach to this in the future.

The collaboration is expected to be announced next week at a meeting on technology, climate, trade and supply chains. It will take place on September 29 in Pittsburgh, United States. European Commission Vice-President Margrethe Vestager (competition) would also be present.

The US and the EU have been trying to curb the power of US tech companies such as Google, Facebook, Apple and Amazon for some time now. Working together has become “crucial”, writes Reuters on the basis of an internal White House memo. If both parties apply the same rules, it should be easier to intervene in the event of infringements.

The US and the EU have now set up a special trade and Technology Council to engage with each other. Among other things, they want to exchange information on how best to approach a management of a technology company. They will also talk about fair competition and moderating content. It will be the first time that the council has met.

The White House does not want to say exactly what is being discussed at the meeting, but confirms that the council is meeting next week.

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