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EU Antitrust Chief Ribera: Consumer Protections Remain Top Priority

By  |  January 16, 2025
European Commission, banking regulations, PSD3

The European Union’s investigations into tech giants Apple Inc., Google, and Meta Platforms Inc. will proceed unabated despite attempts by Silicon Valley executives to appeal to incoming U.S. President Donald Trump, according to the EU’s new antitrust chief, Teresa Ribera. Per Bloomberg, Ribera emphasized the bloc’s commitment to enforcing its recently enacted Digital Markets Act (DMA), rejecting claims of bias against American firms.

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    Speaking at an event in Brussels, Ribera assured reporters there had been “no freezing” or “reassessments” of the high-profile cases under the DMA, despite industry leaders lobbying Trump, whose election campaign was heavily focused on his “America First” agenda. She stressed, “It is our duty to preserve the proper application of the law and to preserve and protect the rights of the consumers.”

    The DMA, a cornerstone of the EU’s efforts to curb anti-competitive practices by dominant digital platforms, includes a stringent set of obligations and prohibitions. Companies found in violation face fines of up to 10% of their annual revenue. According to Bloomberg, Ribera clarified that the application of the DMA’s provisions is impartial and non-discriminatory, with further EU decisions anticipated in March.

    These regulations have already sparked sweeping investigations into major U.S.-based tech firms, drawing significant pushback from industry leaders. Last week, Meta CEO Mark Zuckerberg criticized the EU’s approach, likening its antitrust fines to “almost a tariff” on American businesses. His comments follow a €798 million fine imposed on Meta by EU regulators last year.

    Ribera dismissed such criticisms, underlining that the bloc’s focus remains on ensuring fair competition and protecting European consumers. Bloomberg reported her commitment to maintaining regulatory integrity despite external pressures.

    Source: Bloomberg