The European Union’s highest antitrust regulators foresee greater cooperation with the United States in a broader policy shift under the Biden administration, especially with regard to the enforcement of competition in the technical sector.
Marguerite Vestagger, EU executive vice president of Brock’s competition, said he expects “a much harder job when it comes to technology and the digital market” between the team and Washington.
President Biden’s policy statement and appointment, and legislation from Congress, are approaching the EU’s long-held position with respect to Internet giants, pharmaceutical companies, and other increasingly competitive industries. Is shown.
As the two most powerful antitrust regulators in the world, the United States and the EU can form a discourse of global competition and control many of the world’s largest companies, so greater cooperation could have a major impact. There is.
“It’s definitely going to be a heavenly marriage,” said Jeffrey Jakovovitz, a Washington-based antitrust lawyer at Arnal Golden Gregory LLP, for those who support aggressive enforcement. It was. “I think they work hand in hand. More coordination will strengthen enforcement.”
The coordination will further require cross-retinal companies to develop a broader cross-Atlantic strategy on how to respond to their scrutiny, Jakovovitz said.
While tech companies say using similar policies in multiple jurisdictions can simplify operations, some are concerned that the United States will adopt a more aggressive position in Europe.
“The United States needs to be careful to mimic EU-style experimental regulations,” said Christian Borggreen, vice president and head of the Brussels office of the Computer Communications Industry Association, which represents the following companies: I am.
Amazon.com Co., Ltd.
Facebook Co., Ltd.
And Google. “As a leader in innovation, the United States will lose far more if it makes a mistake.”
Appointment of prominent U.S. progressiveist Biden who criticized tech giants —Lina Khan Runs the Federal Trade Commission Tim Wu To the White House Economic Council — It has been widely seen that Mr. Biden is showing plans to raise the fever of the Internet conglomerate.Companies such as
Microsoft Co., Ltd.
Apple Co., Ltd.
And Google parents
Alphabet Co., Ltd.
Previously, there was little pressure from Democrats, including former President Barack Obama, who criticized past EU efforts to curb US tech companies.
Mr. Bestagger held his first meeting with Mr. Khan at a video conference on July 2nd. Mr Biden has not yet appointed a person in the Justice Department to lead the enforcement of antitrust laws. That nomination could provide further clues to his administration’s approach.
In parallel, House Democrats recently introduced a package of bipartisan-backed bills targeting the practices of large tech companies that critics consider to be anti-competitive.The· Legislation You can dissolve Amazon and other top tech companies, or at least go to the point of shrinking.
New York can go one step further Proposed antitrust law This prohibits companies from abusing their position in the dominant market. This is a central prohibition in EU competition regulations that is much stricter than the US Federal Antimonopoly Act.
Biden last week Issued an executive order It is trying to curb the power of companies in the entire US economy that dominate the market.
Officials on both continents face the enforcement challenge of limiting the activities of digital giants, leading to the joke of a new policy approach. Vestagger has fined US tech companies billions of dollars, Had little impact According to critics, including consumer advocates and some small competitors, about the ability to control the market.
In the United States, last month’s federal judge Rejected case The FTC and most US states have filed against Facebook, but the FTC is expected to retry in a revised proceeding.
Professor Ariel Ezrachi, director of the Center for Competition Law Policy at Oxford University, said: He said the new US approach was “true crustal movements.”
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As a sign of new collaboration, the United States and the EU during Mr. Biden’s visit to Brussels last month announced the creation of a joint technology competition policy dialogue. New EU-US Trade Technology Council..
Coordinated enforcement plans extend beyond technology. In March, the FTC announced the formation of an international working group to share best practices on pharmaceutical mergers, including competitors from the EU, UK, Canada, and several US states. Mr. Vestagger, who expressed concern about trading in this area, welcomed the FTC initiative that took place before Mr. Khan took office.
FTC recently quoted a EU antitrust review of life sciences companies
Illumina Of a corporation
Grail Inc to persuade the judge.Plan to acquire Reject company bids For a quick US court hearing.
US and European enforcers are not always the same due to different markets and laws.Proposal for merger with insurance broker AonPLC
For example, PLC won EU approval last week despite facing it U.S. proceedings From the Justice Ministry.
Officials on both sides of the Atlantic have said that EU and European domestic competition regulators are already working closely with the Justice Department, the FTC and US states.Cooperation has deepened in the last few years — even in the broader US-EU friction under the former president.
— When US authorities begin to sue EU long-standing targets such as Google and Facebook.
Transatlantic cooperation “is clearly even more intense if both the DOJ and the FTC have their own case studies,” Vestager said in an interview. In some cases, the target company may need to waive the cooperation of the authorities. The exemption will allow the case team to discuss their work at seminars and weekly phone calls, making it “really concrete and concrete,” Vestager said.
Olivier Gercent, Executive Secretary of the EU Competition Commission, the highest antitrust regulator under Mr. Vestagger, said his team advised US state and federal counterparts on the incident that opened last year. ..
“When the DOJ decided to move, we explained the traps we fell into and the problems we were having, so they would benefit from our learning curve and gain time.” Said Guersent.
The narrowing of the approach gap goes beyond “some deeply embedded differences in philosophy,” Guersent said. According to him, the United States has traditionally relied on market power, such as the rise of start-ups, to curb companies that have developed disproportionate competitiveness.
“We are not confident [so] We tend to be more interventionist, “he said, explaining the cultural differences. “The question is how ready to lose consumer welfare due to excessive market power.”
“In a sense, we think we’re converging because the risk is too high by US standards,” Garcent said.
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U.S. competition policy is in line with Europe and deeper cooperation may continue
Source link U.S. competition policy is in line with Europe and deeper cooperation may continue