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Members of the US lower house in action: contain the power of the Techuzians | Financial

A number of members of the United States House of Representatives introduced a comprehensive set of proposals that would make it more difficult for companies to make acquisitions, but also prohibit them from owning companies that are clearly each other’s competitors.

The antitrust reforms were introduced Friday by a group of politicians in an effort to reform age-old rules over the next few years. The proposals must still be approved by a special committee before being sent to the full House of Representatives. They also have to pass the Senate before President Joe Biden can sign them. Democrats and Republicans differed on some solutions, but they mostly agreed on the alleged damage to competition and the need for reform.

Legislative proposals

Two of the new bills introduced on Friday could prove particularly difficult for Amazon and Apple to handle. Both companies manage marketplaces where they also sell their own products or apps. They compete with those of other vendors or developers who in turn depend on the two.

The measures come in the wake of a lengthy investigation into the four companies, which was concluded last year by a special antitrust committee of the House of Representatives. The company then concluded that Amazon, Apple, Facebook and Google have monopoly positions and that antitrust laws need to be revised to better address the unique challenges of competition in digital markets.

Members of the US lower house in action: contain the power of the Techuzians | Financial
Source link Members of the US lower house in action: contain the power of the Techuzians | Financial

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