Today, European Commission Executive Vice-President Margrethe Vestager, US Federal Trade Commission Chair Lina Khan and the Assistant Attorney General for Antitrust of the US Department of Justice Jonathan Kanter met in Brussels for the second meeting of the EU-US Joint Technology Competition Policy Dialogue (‘TCPD’).
Margrethe Vestager, European Commission Executive Vice-President in charge of competition policy, said:
“With today’s meeting, we have continued the long standing tradition of close cooperation in competition policy and enforcement between the European Commission and the US competition authorities. In the fast evolving technology sector, this cooperation is crucial to achieve a fair and inclusive digital transformation on both sides of the Atlantic.”
“Dominance in digital markets poses global challenges, which makes global cooperation by antitrust enforcers essential,” said FTC Chair Lina M. Khan. “Deepening our partnership and exchanging insights with our European colleagues can help ensure that our enforcement practices and policies reflect modern market realities. Ultimately these efforts to promote fair competition in digital markets will benefit consumers, businesses, and workers on both sides of the Atlantic.”
“The European Commission has been an invaluable partner as the Antitrust Division advances its understanding of the market realities and competition challenges presented by digital markets,” said Assistant Attorney General Jonathan Kanter of the Justice Department’s Antitrust Division. “We look forward to continued close collaboration as we work to effectively enforce the antitrust laws in our jurisdictions.”
Following the launch of the TCPD on 7 December 2021, today, the heads of the European and US competition authorities met to take stock on the progress made on their cooperation efforts to ensure and promote fair competition in the digital sector.
Among others, the discussion focused on: (i) the importance of forward-looking analysis in the field of technology to identify future key markets and issues that may arise in the digital sector (ii) the adoption of effective remedies in digital cases, and (iii) the need to keep merger regulations fit for purpose in a digitalised economy.
The European Commission and the US authorities have underlined the good cooperation since the launch of the TCPD on common challenges faced by the three authorities in the technology sector. Throughout the year, several technical meetings took place on various topics covering both merger and antitrust matters. In the context of these meetings, the three authorities have shared insights and knowledge on each other’s policy and enforcement activities in the digital sector.
The three authorities have agreed on the importance of continuing to closely collaborate in the technology sector in the framework of the TCPD, based on the common belief that well-functioning and competitive markets benefit consumers, businesses, and workers on both sides of the Atlantic.
The TCPD will continue with high-level meetings, as well as regular discussions at technical level.
Background
On 15 June 2021, Commission President Ursula von der Leyen and President Joe Biden of the United States launched the EU-US Trade and Technology Council (TTC). The TTC serves as a forum for the US and EU to coordinate approaches to key global trade, economic, and technology issues and to deepen transatlantic trade and economic relations based on shared democratic values.
On 7 December 2021, the Commission, the US Federal Trade Commission, and the Antitrust Division of the US Department of Justice have launched the TCPD, which focuses on developing common approaches and strengthening the cooperation on competition policy and enforcement in the technology sector.
The Commission, the US Federal Trade Commission, and the Antitrust Division of the US Department of Justice have a longstanding tradition of close cooperation in antitrust enforcement and policy. This cooperation began even before the formal 1991 Agreement between the Commission of the European Communities and the Government of the United States of America Regarding the Application of their Competition Laws, subsequently complemented by the 1998 agreement on the application of positive comity principles in the enforcement of their competition laws. In 2011, the three agencies reaffirmed their strong commitment to this mutually beneficial cooperative relationship by adopting joint Best Practices on Merger Cooperation.
Source – EU Commission