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Rules against U.S tech giants to come into force October, EU’s Vestager says -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Margrethe vestager, European Commissioner to Europe for fit for digital age, speaks at a signing ceremony concerning the Chips Act held at EU headquarters, Brussels, Belgium on February 8, 2022. Virginia Mayo/Pool via REUTERS

BRUSSELS. (Reuters). – The EU’s antitrust chief Margrethe Vegara said Friday that tough new rules aimed at the U.S. tech industry giants, which she agreed on late Thursday night, will come into effect in October. It comes just over a year since Vestager had suggested them.

Digital Markets Act, also known as the Digital Markets Act, outlines a series of guidelines for Amazon (NASDAQ) and Apple (NASDAQ), Meta (NASDAQ), Alphabet (NASDAQ), unit Google (NASDAQ), and Microsoft (NASDAQ). Fines can be up to 20% of annual global turnover.

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