EU Parliament Agrees On New Rules To Take On Tech Giants

The European Parliament on Thursday, January 20, signed off on a proposal for new rules aimed at US tech giants, paving the way for talks on the plan with member countries and the European Commission, reported Reuters.

The Digital Services Act, a proposal from EU antitrust chief Margrethe Vestager, would force Amazon , Apple, Alphabet unit Google, and Facebook owner Meta to do more to tackle illegal content on their platforms or risk fines up to 6% of global turnover.

Vestager’s proposal still needs to be ironed out with EU countries and lawmakers before it can become law, the first of its kind in the world.

The European Parliament adopted the proposal with 530 votes in favor, 78 against, and 80 abstentions. “With a huge majority, the European Parliament adopted the Digital Services Act. A big win, with support from left to right,” Dutch lawmaker Paul Tang wrote on Twitter.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.