In certain circles of the Democratic Party, common sense and advocacy for free markets and innovation are alive and well.
Ignored in the Christmas rush, 22 members of the US House of Representatives, including 12 Democrats, sent a letter to President Biden on December 15 expressing "serious concerns" about the European Union's (EU) designation of five American technology companies. Goalie.
This classification represents a threat to the American economy because it could result in large fines and force these companies to work to solve problems that do not exist, while ignoring the more serious problems facing Chinese companies and... other companies. As it says: “Recent decisions by EU officials could seriously harm US competitiveness and security interests.”
The representatives call on the administration to "immediately investigate" how the EU's actions "could harm US economic and security interests, including by forcing US companies to hand over US data, trade secrets and intellectual property to European companies, Chinese and American. to deliver to foreign transfer companies.”
Furthermore, the EU clearly discriminates against American companies. Of China's many big tech companies, only one has been named a watchdog, and major European retailers, telecommunications, content-sharing platforms and others may avoid the EU watchdog designation.
The authors put it this way: "The EU has the right to regulate the digital economy, but its 'digital sovereignty' agenda has repeatedly imposed one set of rules on US companies and a different, more favorable set of rules on US companies. European and foreign companies." Company. Including Russian and Chinese companies.
The letter not only directly criticizes Federal Trade Commission Chairwoman Lina Khan, who has worked extensively with European regulators. He led an aggressive campaign against five US companies in the EU's crosshairs: Alphabet (Google), Amazon, Apple, Meta (Facebook) and Microsoft.
While the authors “… congratulate President Biden for his efforts at the Trade and Technology Council and encourage him to maintain the critical relationship between Europe and the United States,” they add: “We are disappointed by the lack of strong cooperation and coordinated. “US Government A response to the open orientation of EU policy towards US companies, in particular the DMA (Digital Markets Act).
Rep. Lou Correa (D-CA), the person accused in the letter, is a member of the antitrust subcommittee of the House Judiciary, Regulatory Reform and Government Administration Committee. Rep. Thomas Massey (R-KY), chairman of the subcommittee, is also a signatory.
Other Democratic signatories include major technology companies in their districts and well-known representatives in the House of Representatives, such as Reps. Debbie Wasserman Schultz, Jared Moskowitz, Zoe Lofgren and Gerry Connolly.
America's leading technology innovation companies, including the five EU target companies, have played a central role in our country's growth and prosperity over the past 15 years. While the technology sector is booming in the US, there are only a few well-known technology companies in Europe.
Not surprisingly, President Biden also listens to Democrats who see things differently. In a December 12 letter signed by Senators Elizabeth Warren, Bernie Sanders and seven other congressmen, the administration called on the EU to take these steps.
It should not be prudent for a government to protect American companies from foreign interference and asset seizure attempts. This is particularly important in 2024 given the economic and national security importance of America's largest technology companies.
The Chinese and others support the EU. The Biden administration, Democrats in Congress, and the rest of us must definitely respond.
