🇺🇸On Friday, President Trump signed a memorandum to defend American companies and innovators from overseas extortion. ‘𝘙𝘦𝘨𝘶𝘭𝘢𝘵𝘪𝘰𝘯𝘴 𝘵𝘩𝘢𝘵 𝘥𝘪𝘤𝘵𝘢𝘵𝘦 𝘩𝘰𝘸 𝘈𝘮𝘦𝘳𝘪𝘤𝘢𝘯 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘪𝘯𝘵𝘦𝘳𝘢𝘤𝘵 𝘸𝘪𝘵𝘩 𝘤𝘰𝘯𝘴𝘶𝘮𝘦𝘳𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘌𝘶𝘳𝘰𝘱𝘦𝘢𝘯 𝘜𝘯𝘪𝘰𝘯, 𝘭𝘪𝘬𝘦 𝘵𝘩𝘦 𝘋𝘪𝘨𝘪𝘵𝘢𝘭 𝘔𝘢𝘳𝘬𝘦𝘵𝘴 𝘈𝘤𝘵 𝘢𝘯𝘥 𝘵𝘩𝘦 𝘋𝘪𝘨𝘪𝘵𝘢𝘭 𝘚𝘦𝘳𝘷𝘪𝘤𝘦𝘴 𝘈𝘤𝘵, 𝘸𝘪𝘭𝘭 𝘧𝘢𝘤𝘦 𝘴𝘤𝘳𝘶𝘵𝘪𝘯𝘺 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘈𝘥𝘮𝘪𝘯𝘪𝘴𝘵𝘳𝘢𝘵𝘪𝘰𝘯’. But the DMA and DSA are not just about American companies. They are about restoring competition and ensuring a safe environment for consumers. These regulations aim to oversee ‘online platforms’ - regardless of where they are based 🌍. I hope this statement won’t signal a rollback of enforcement actions by the European Commission, as more needs to be done. For instance, the spread of fraudulent content online is still not a priority, even though our citizens lose billions of euros each year to scams on online platforms. Many of these platforms happen to be American companies.
Journalist with expertise in EU/UK financial and tech regulation
1wI wonder what this means for social media liability (if Parliament got their way?)