US Chamber Raises Competition Concerns Over EU Data Act

Companies shouldn’t be forced to turn over sensitive data to competitors and European governments under the threat of massive fines authorized under the EU’s Data Act, the U.S. Chamber of Commerce said Wednesday. EU officials reached agreement on the Data Act Tuesday. European Commissioner for Internal Market Thierry Breton called it a “milestone in reshaping the digital space.” The chamber cited concerns about the legislation’s impact on competition, investment and innovation. “We urge EU policymakers to engage in dialogue with stakeholders, including American businesses, as the Act is finalized and implemented,” said Sean Heather, senior vice president-international regulatory affairs and antitrust.