New report warns of European threat to American-led tech innovation
ALEC Report Examines How American Businesses are Harmed by the EU’s Digital Markets Act
ARLINGTON, Va. — The American Legislative Exchange Council released a new report, A Threat to American Tech Innovation: The European Union’s Digital Markets Act. The report explains why the European Union’s (EU) new sweeping technology regulations will have drastic consequences on America’s technology innovators for years to come and should not be emulated by the U.S.
The European Parliament recently approved the Digital Markets Act, a new set of burdensome regulations governing technology policy within the EU bloc. European lawmakers claim the changes will “promote fairness” and “ensure transparency and accountability of online platforms.” However, their heavy-handed regulatory regime will stifle emerging American technologies. The report makes clear U.S. policymakers should instead pursue free market solutions that will encourage the next wave of tech innovation and economic growth, benefitting American users in the modern digital age.