The Justice Department’s Antitrust Division and the Federal Trade Commission (FTC) actively engaged in the G7 Competition Authorities and Policymakers’ Summit, a pivotal event focusing on the challenges of competition in digital markets. Hosted in Tokyo by Japan’s Secretariat of Headquarters for Digital Market Competition and the Japan Fair Trade Commission, this summit was convened by the G7 Digital and Tech Ministers.
Represented by Chief of Staff Joshua Tzuker, with assistance from International Counsel Mark Niefer, the Antitrust Division extended its gratitude to Japan for orchestrating a productive and essential gathering. Chief of Staff Tzuker emphasized the importance of international cooperation in safeguarding consumers and workers against the evolving threats to competition in global digital markets. He hailed the summit as a significant stride toward strengthening collective efforts to preserve digital market competition today and in the future.
Read more: G7 Countries Seek ‘Common Vision’ For AI
In preparation for the summit, G7 member countries contributed to the “Compendium of Approaches to Improving Competition in Digital Markets,” providing insights into their individual efforts to address competition concerns in the digital landscape. Japan unveiled the “G7 Inventory of New Rules for Digital Markets” alongside an accompanying “Analytical Note,” which outlined new or proposed laws and regulations intended to bolster competition in the digital realm.
As the summit concluded, G7 competition authorities and policymakers issued a “Digital Competition Communique,” underscoring their shared commitment to enforcing competition laws and developing policies aimed at upholding the principles of fair competition within digital markets. The communique also shed light on competition concerns stemming from emerging technologies and highlighted the strategies employed by G7 competition authorities and policymakers to better understand and anticipate challenges posed by new technologies, such as generative artificial intelligence.
Source: Justice Gov