MEPs’ Silicon Valley visit: redefining worldwide digital economy

From May 23 to 27, an Internal Market Committee delegation visited key US-based tech companies in Silicon Valley, California (US). This 5-day mission consisted of sharing the latest digital market insights in the United States with tech-leading actors.

One of the main objectives of this trip was to discuss the upcoming Digital Services Act (DSA) and Digital Markets Act (DMA) with the most affected companies, such as Meta, Google and Apple. Although representatives were in favor of these new regulations, “we will have to see how compliant or litigious they will be once the DMA and DSA enter into force”, Andreas Schwab – the Chair of the delegation – highlighted.

In parallel, the delegation met with Small and Medium Enterprises (SMEs), part of the indirect beneficiaries of the legislation. As a matter of fact, the DSA-DMA package will benefit them so they can fairly compete with the preeminent tech companies on the digital market. Schwab noted “their strong support for an EU-wide level playing field and clear rules”.

Hence, MEPs got to the conclusion that the EU has a role to play in redefining the digital economy for both companies and consumers, so as to make it fairer. Schwab emphasized that “[the application of EU] physical economy [laws] into the digital sphere will set an example and create a demand in other jurisdictions worldwide”. Considering the current digital fragility, the Chair of the delegation calls for the US and the EU to work hand in hand so as to “avoid a fragmentation of the internet as we know it”.

Find the official European Parliament’s press release here.