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Pirate Wires
EU Weaponizes Regulations Against American Companies
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The European Union has been imposing heavy fines on American big tech companies for non-compliance with regulations, specifically targeting them. The GDPR, passed in 2016, has seen 84% of fines levied at American companies, totaling around 3.8 billion euros, with Meta alone paying over 2 billion euros. The new regulations, the Digital Market and Digital Services Act, have compliance deadlines in March and allow fines of up to 10% of global annual turnover. The DMA targets anti-competitive behavior, mostly by American companies, while the DSA targets large online platforms. Apple faces a potential $38 billion fine, which is around 20% of its net annual income if it doesn't comply. The EU is actively implementing these regulations, already threatening fines and daily fines for non-compliance, creating a challenging regulatory landscape for American companies operating in Europe.
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