Technology

US Congress continues to discuss suppressing the tech giants


Both the Trump administration and the Biden administration agree to continue antitrust investigations, re-launching lawsuits against the tech giants.

Last year, the Trump administration’s Justice Department filed antitrust lawsuits against Facebook and Google. This week’s hearing is also the first time Democrats continue to discuss the legislative program after taking full control of the White House, Senate, and House of Representatives.

David Cicilline, Chairman of the Antitrust Committee of the House of Representatives

Subscribe to promote antitrust

The Antitrust subcommittee of the US House Judiciary Committee held a 3-hour hearing on February 27. The topic is “Competition revives, Part 1: A Gatekeeper plan to deal with the power and lower the barrier to network entry“.

The focus of this hearing is to understand how the tech giants act as gatekeepers and what steps the legislature should take to effectively avoid problems. The hearing covers two meanings: The first is how to remove the Internet giants’ control of online public opinion, and the second is to help many smaller companies enter the market and increase. intensifying market competition in the technology industry.

This is also the next legislative discussion after the US House Judiciary Committee convened a hearing last summer with the CEOs of the four internet giants.

Although Democrats and Republicans have clear positions on many policy issues and it is difficult to reach agreement, they are aware of the rapid expansion of political and economic influence of public giants. technology, at the same time realizing that previously regulated concepts had to be changed and that the tech giants had to be restrained.

Both the Trump administration and the Biden administration agree to continue antitrust investigations, re-launching lawsuits against the tech giants.

The positions of the two sides are basically the same

Although the two parties oppose, but there is an absolute harmony on the issue of antitrust. At this week’s hearing, the chairman of the Antitrust Committee of the House Judiciary Committee, Democrat David Cicilline and Republican Committee member Ken Buck, repeatedly voiced their anti-regulatory stance. exclusively on behalf of the respective parties. They both believe that the US antitrust regulatory system and specific laws need to be reformed.

Notably, the call for regulatory reform was also endorsed by Judiciary Committee Chairman Jerrold Nadler, Republican Jim Jordan and two other parties in the House of Representatives. . This means that the current Congress will soon begin drafting a new law on antitrust oversight of the tech giants, but the two sides’ specific needs will vary.

At this hearing, the two sides agreed on issues including budget increases and support for two major US antitrust regulators, the antitrust division of the Justice Department and the Commission. Federal Trade Commission (FTC).

The increase in budgets is intended to push two major divisions to accelerate antitrust litigation against the tech giants (the lawsuit against Google and Facebook still requires enormous resources and energy, the decision to sue Amazon and Apple are still incomplete), strengthen the government’s review of M&A transactions

In addition, the two sides also agreed to improve the interoperability of applications and devices in the current mobile Internet, helping consumers to obtain more mobile data and more efficiently. To this end, lawmakers proposed the creation of a new federal regulator responsible for overseeing Big Data and disrupting the Internet giants’ monopoly on Big Data.

The organization’s spearhead is clearly targeting four Internet giants, all facing investigations and related lawsuits in the US or Europe. In particular, focusing on 3 basic principles is interoperability data, prohibiting suppression of large platforms, and finally structural adjustment. The main idea of ​​the committee is to strengthen antitrust oversight without damaging the technology industry’s competitiveness.

Feedback varies from technology industry

Although some of the major tech giants have yet to comment on the hearing, industry organizations and consulting organizations representing their interests have reached their point. It emphasizes that the foundation of antitrust is to protect the interests of consumers and compete based on technological innovation that should be protected.

However, the Information Technology and Innovation Fund (ITIF), a formal advisory body that represents the interests of the technology industry, has made a clear objection to the regulatory hearing. ITIF director of antitrust policy Aurelien Portuese said that antitrust regulatory legislation needs to ensure that innovation is encouraged and that digital innovation has a multitude of benefits to society. Google and Facebook are both important members of the ITIF.

Even small and medium enterprises are concerned that the government’s “antitrust sword” will damage the growth trend of the digital economy. The Connected Trade Council, an industrial organization representing more than 1,600 small businesses, on the one hand emphasizes the importance of opening up data exchange and on the other hand the importance of giant technology platforms. for small businesses.

“Congress instead of continuing to conduct antitrust investigations, it is better to empower and invest in small businesses, providing resources to help them use advanced, digital means. survivability and coping with the next crisis, “Jake Ward, president of the Chamber of Commerce Connection, said in a statement.

Phong Vu

The EU and the Biden administration agree on the issue of oversight of the Big Tech group

The EU and the Biden administration agree on the issue of oversight of the Big Tech group

The head of the European Commission confirmed, US President-elect Joe Biden and the European Union “agree” on oversight regulations for the tech giants.

.

Leave a Reply

Your email address will not be published. Required fields are marked *