Europe, meanwhile, recently unveiled legislation that would give regulators sweeping new power to take on those American tech companies. Striking a balance in EuropeOn the other side of the Atlantic, authorities have been focused on reining in tech companies for years. Tech companies that fail to remove or limit the spread of illegal content will face fines of up to 10% of their annual sales. After all, the tech companies in the European Union's cross hairs are all based in the United States. Bush and others also noted that China's central government has a lot of tools aside from conventional competition law if it wants to keep its tech companies in check.

Source: CNN December 28, 2020 10:30 UTC