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US and EU reportedly set to team up on limiting power of big tech companies

The unified push will reportedly be discussed at an upcoming US-EU Trade & Technology Council meeting.

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Sarah Tew/CNET

American and European regulators are reportedly planning to take a more unified approach to limiting the market power of big tech companies, such as Google, Apple, Amazon and Facebook. The joint push will be unveiled next week alongside other tech, climate and supply chain announcements from the US-EU Trade & Technology Council meeting in Pittsburgh, reported Reuters on Thursday, citing a draft memo. 

President Joe Biden and European Commission President Ursula von der Leyen launched the Trade and Technology Council, or TTC, earlier this year to "coordinate approaches to key global trade, economic, and technology issues." The group's first meeting happens on Sept. 29 and will include Secretary of State Antony Blinken, Secretary of Commerce Gina Raimondo and US Trade Representative Katherine Tai as well as European Commission executive vice presidents Margrethe Vestager and Valdis Dombrovskis, according to the White House

At the meeting, the council's group focused on tech will "exchange information on our respective approaches to technology platform governance, seeking convergence where feasible," reads the memo, according to Reuters. The draft memo reportedly calls out gatekeeper power and misinformation as areas of common concern, as well as "content moderation and fair competition." 

The White House didn't respond to a request for comment. 

The reported team-up comes as regulators in the US and EU have become increasingly critical of the immense market power held by tech giants. In July, the chief executives of Facebook, Amazon, Apple and Google were hauled in front of a congressional committee for a grueling six-hour hearing, an unprecedented public interrogation of Big Tech's most visible leaders. 

Amazon declined to comment on the report. Google, Apple and Facebook didn't respond to requests for comment.