Public Management

U.S. Congress passes rule to regulate tech giants

U.S. Congress passes rule to regulate tech giants
Monday, 28 June 2021 14:35

The Big Tech has never risked more than fines or lawsuits for its excessive dominance over tech markets. This time, "America has had enough," Congressman David Cicilline told his peers on Wednesday, June 23.

A U.S. congressional committee approved, Thursday, June 24, after a session of about 30 hours, a bill to better regulate the activities of tech giants mainly the GAFAM (Google, Apple, Facebook, Amazon, Microsoft).

Big win for consumers, workers, and small businesses!” Democrat David Cicilline, chairman of the subcommittee on antitrust, tweeted. The anti-monopoly law, which covers 6 measures concerning the ownership of user data and the means to foster competition, still has to pass before the House of Representatives. If approved, the rule could change the current face of a market strongly dominated by GAFAM, and even open the way to future dismantling of these behemoths.

For Republican Kenneth Buck, who agrees with the Democrats in this venture, this project will free the digital marketplace from the grip of the all-powerful tech industry. The reform seeks to keep an eye on the stranglehold of big tech companies on their sales platforms, where they have full power. This is the case for Amazon, to name but one, which sells its products on its e-commerce site, while setting the rules for other competing companies on it. It is this abusive monopolistic hold that some American congressmen, mostly Democrats, want to limit.

This dual role of dominant platforms creates irreconcilable conflicts of interest and the bill would solve the problem by forcing them to choose between being a platform or marketing products and services on a platform,” explained David Cicillin.

Sèna D. B. de Sodji

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
BNP Paribas entered exclusive preliminary talks with Holmarcom to sell its 67% stake in BMCI. Holmarcom already owns 2.41% of BMCI and acquired...
Senegal approves payment for its capital subscription to the African Energy Bank (AEB) APPO says the contribution brings the bank “closer to...
Ethiopia may receive about US$261 million once the review is approved. The ECF programme supports the country’s Homegrown Economic Reform (HGER)...
IFC considers €75.25 million investment in cocoa processor Guan Chong Funds to expand cocoa processing plant in Côte d’Ivoire Project...
Most Read
01

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
02

Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...

AfDB Re-engages Eritrea With Strategy Focused on Infrastructure, Climate Resilience and Regional Integration
03

Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...

Malawi: New $100M Cement Plant Targets Forex Crisis but Faces Energy Reality
04

Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...

Nigeria Pursues Boeing, Cranfield Partnership to Establish Aircraft Maintenance Center
05

Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...

Benin Government Says Attempted Coup Against President Talon Has Been Foiled
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.