The US Congress approves an antitrust reform bill to counter Big Tech

Several key antitrust reforms have been approved by the US Senate Judiciary Committee that would forbid big tech from favoring its own services and products over competitors'.

Senate Democrats Amy Klobuchar (D-MN), Josh Hawley (R-MO) and Chuck Grassley (R-IA) are spearheading this bipartisan bill.

:I want to emphasize that this bill is not aimed at breaking up Big Tech or destroying its products and services, but rather at preventing conduct that stifles competition, while continuing to offer consumer-friendly innovations." said Gov. Grassley

White House officials met with companies that have in the past criticised Big Tech, but did not issue any statement on the bill.

Tech giants are concerned with the proposed antitrust legislation this week, according to earlier media reports. Apple CEO Tim Cook and Alphabet CEO Sundar Pichai have personally contacted their senators to urge them to oppose the proposed legislation.

In fact, it only applies to Apple, Amazon, Meta and Alphabet's Google.

In addition, platforms would no longer be allowed to use actions such as swaying search results in their favor, restricting rivals' access to platform data, or using non-public data from customers against them in competition.