EU regulations cost billions for American tech companies

(The Center Square) - European regulators are targeting American companies with policies that stifle American competitiveness in the technology industry, according to a new report. Consumers’ Defense, a 501(c)(4) nonprofit, released a report that highlighted how European nations’ technology regulations impede American companies from making advancements. The report focused on the EU’s Digital Markets Act and Digital Services Act. The Digital Markets Act imposes regulations on large digital companies that offer internet searching, app store and messaging services. While it applies these regulations on large companies, smaller digital companies do not have the same requirements. Alphabet, Apple, Meta, Amazon, Microsoft and Booking Holdings are all restricted by the European Union’s Digital Markets Act. U.S. Secretary of Commerce Howard Lutnick called on the E.U. to analyze its digital rules and regulations that are harming American businesses. “Find a balanced approach that works with us,