The European Commission fined Apple and Meta heavily, signaling a global protectionist trend beyond just the Trump agenda. These fines enforce the EU's Digital Markets Act (DMA), targeting major American tech companies as digital "gatekeepers." The DMA aims to restructure these companies, impacting their business models that fostered innovation. Apple, having invested heavily in secure and interconnected products, faces the risk of forced interoperability exposing sensitive user data. The EU's mandate could compromise user privacy by granting access to communications and personal data to numerous developers. This action, under the guise of consumer protection, may benefit Chinese interests, raising national security concerns. Europe's actions stem from a mix of progressive ideology and anti-American sentiment, disproportionately targeting Apple despite Samsung's larger market share. The Biden Administration initially supported the DMA, but American attitudes are shifting against it. Critics argue the DMA stifles innovation, hinders research, and provides data to competitors and adversarial nations. The author suggests Trump should defend American tech companies during trade negotiations with the EU.
zerohedge.com
zerohedge.com
Create attached notes ...
