Brussels (Brussels Morning Newspaper) – The EU’s next antitrust chief has vowed to strengthen the crackdown on Big Tech and foreign firms receiving unjust state subsidies to purchase EU peers or take part in EU tenders.
The European Union enacted the landmark Digital Markets Act in 2022, which pushes tech companies to make it more comfortable for consumers to choose services from different providers. It assigned Alphabet, Apple, Amazon, Meta, Microsoft and TikTok owner ByteDance as “gatekeepers” under the DMA, indicating they warrant extra regulation.
How will the next EU antitrust chief enforce the Digital Markets Act?
Teresa Ribera, who has been designated as the EU Commission‘s next antitrust chief, stated “I will push for a vigorous enforcement of the DMA, shaping the Commission policy concerning this important new instrument, to deliver concrete results for European business and end users,” in written answers to the EU parliament.
The parliament will carry out hearings for nominated commissioners in November. “We cannot afford unduly long antitrust investigations during which firms continue to benefit from their anticompetitive practices,” Ribera said.
What is Ribera’s plan to tackle “killer acquisitions”?
Earlier this year, the Commission undertook investigations into Alphabet, Apple and Meta for potential violations of DMA rules. In a bid to boost new EU market leaders, Ribera’s mission also includes shielding small and midcap businesses from “killer acquisitions” by foreign companies aiming to destroy competition.
In her responses, Ribera stated she wanted to simplify regulations for state aid and enforce foreign subsidy regulations. The EU is attempting to stem what it feels as unfair competition from subsidised Chinese companies in wind, solar, and in certain, electric vehicles.
What broader industrial strategy does Ribera propose for the EU?
Moreover, Ribera expressed regulation would not solve the bloc’s issues and a new industrial strategy was required. “The BEVs (battery electric vehicles) anti-subsidy probe was grounded on solid realities and evidence and was undertaken in line with WTO (World Trade Organization) rules,” Ribera expressed. “This case is not a substitute for our automotive industrial strategy. Looking ahead, we are required to conduct a broader strategic debate about the future of the automotive industry in the EU.”
