PresidentVestager mused about “comparing notes” with American regulators to target American companies and characterized opposition to her plans as not being “expected company behavior.”
Does Vestager ever wonder why America — not Europe — is home to the world’s largest and most successful companies? In America, we celebrate and encourage entrepreneurial success. In sharp contrast, Eurocrats pride themselves on the fact that they are always the first to heavily regulate new industries. Enter the Digital Markets Act, a new law thatAmerican technology companies as “gatekeepers” over the internet and gave Brussels bureaucrats a host of new tools to tax and regulate them.
The DMA allows EU bureaucrats to prosecute American companies on antitrust grounds and then levy massive penalties when the targeted company inevitably ends up guilty. These fines can total in the tens of billions of dollars, and are used to prop up Europe’s bloated social welfare system. for its music streaming service two days before DMA became law.
It gets worse — your tax dollars are funding European attacks on American companies. Last year, the Federal Trade Commission and Department of Justice announced that they were sending staff to assist EU bureaucrats in implementing the DMA. In a Congressional hearing, FTC Chair Lina Khan refused to provide details on the cost or scope of this collusion. Sen.