Washington D.C. – National Foreign Trade Council (NFTC) Vice President for Global Trade and Innovation Jake Colvin released the following statement in response to today’s announcement by the European Commission of new proposals for a Digital Services Act and Digital Markets Act. “Today’s proposals by the EU appear at first blush to be protectionism masquerading as regulation.
“The EU’s focus on discriminatory approaches aimed specifically at innovative American companies threatens to undermine prospects for transatlantic cooperation on trade and technology. By targeting U.S.-based global technology platforms, which serve as bridge-builders rather than gatekeepers, EU regulators also threaten to harm European small businesses and innovators who rely on these services and technologies for visibility, marketing and sales.
“In the coming year, the EU and United States have an opportunity to reinvigorate the transatlantic trade relationship and establish new dialogues to advance shared interests and global standards for technology and digital trade. The bilateral relationship would be better served by close cooperation in these areas, including the creation of mechanisms such as a EU-US Trade and Technology Council and a transatlantic technology dialogue to establish a global model for respecting intellectual property and global competition rather than pursuing a digital sovereignty-driven approach.
“We look forward to engaging with the EU and United States to encourage a more constructive approach to global technology issues.”
About the NFTC
Serving America’s Global Businesses Since 1914– The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves its member companies through its office in Washington D.C.