Antitrust Reform in the USA: Five New Laws
The fight against tech giants is gaining momentum in the United States, with the introduction of five new bills that directly aim to Apple, Amazon, Facebook is Google. The reform, currently under consideration, is the result of detailed investigations conducted by the Justice subcommittee of the United States House of Representatives. These investigations revealed that current antitrust laws are insufficient to regulate the monopoly power held by these companies in various industries.
This reform aims to restore a more balanced digital market, providing opportunities for new competitors and benefits for consumers. This article offers a detailed overview of each bill, examines potential obstacles to their passage, and reflects on the need for hard law reform.
Details on the Five Antitrust Bills
The five bills introduced seek to address specific aspects of market domination by Big Tech:
1. Platform Neutrality:
The first bill seeks to prohibit platforms from owning subsidiaries that compete with other companies on the same platform. Otherwise, they will be forced to sell those assets to maintain fair competition.
2. Limitation of Preference to Own Products:
The second bill provides for heavy penalties if a platform gives preference to its own products over those of other companies.
3. Regulation of Mergers:
The third bill requires platforms to refrain from any merger unless they can demonstrate that the acquisition does not threaten competition.
4. Data Portability:
The fourth design requires that users can transfer their data from one platform to another, thus promoting competition.
5. Strengthening of Regulatory Bodies:
The latest bill seeks to strengthen the power of the Justice Department and the Federal Trade Commission to evaluate large companies and ensure mergers comply with the law.
Gap of Opinion: Support and Criticism of the Bills
While the U.S. Chamber of Commerce has criticized the bills' target-specific approach, arguing that it may be unconstitutional, advocacy groups such as Public Citizen have expressed strong support. They believe these measures can put an end to abuses of power that harm consumers and limit competition.
The Growing Need for Hard Law Reform
Existing laws have proven insufficient in limiting Big Tech's anti-competitive practices. This ineffectiveness is evident from the long series of unsuccessful investigations conducted in recent years, not only in the United States but also globally. Hard law reform therefore appears not only necessary but urgent, especially in an era in which these companies face accusations on multiple fronts, from privacy violations to digital security issues.
Future Scenarios and Legislative Obstacles
While some bills appear to have a broad base of support, such as those addressing data portability and strengthening antitrust agencies, others may face significant resistance. The main concern is that the new regulations could unintentionally harm small and medium-sized businesses. However, the urgency for action is palpable. As Republican Rep. Ken Buck pointed out, “doing nothing is not an option.”
Conclusion
Antitrust reform in the United States represents a significant step towards a more just and competitive digital ecosystem. The complexity and severity of the issue, however, require a thorough evaluation of the potential effects, benefits and associated risks. The key to success will lie in Congress's ability to balance the need to limit the power of Big Tech without hindering innovation and economic growth.
