Teresa Ribera's Push for Fair Competition in the EU

Teresa Ribera, nominated as the European Commission's next antitrust chief, plans to strengthen enforcement of the Digital Markets Act to curb Big Tech dominance. She aims to protect small businesses from 'killer acquisitions' and push for new industrial strategies. Ribera emphasizes the need for fair competition and enhanced regulation.

Teresa Ribera, poised to take on the role of the European Commission's next antitrust chief, is committed to ramping up the EU's crackdown on Big Tech and foreign entities benefiting from unjust state subsidies. Ribera's focus is on reinforcing the pivotal Digital Markets Act (DMA), which regulates major tech companies like Alphabet, Apple, and Microsoft, deemed 'gatekeepers.' Her objectives include ensuring fast antitrust investigations and safeguarding small European businesses from hostile takeovers.

In her mission to foster new EU market leaders, Ribera is determined to protect smaller companies from aggressive acquisitions that aim to stifle competition, especially from non-EU corporations looking to monopolize the market. She advocates for streamlined state aid regulations and enforcing foreign subsidy rules as part of her broader strategy. Her vision reflects the EU's intent to thwart unfair practices by subsidized entities, particularly from China, in sectors such as wind, solar, and electric vehicles.

Despite these efforts, Ribera argues that regulatory measures alone cannot resolve the EU's challenges. She calls for a fresh industrial strategy, collaborating with nominees like the climate chief, to potentially innovate a clean industrial deal, addressing the future of the automotive sector in Europe. Ribera insists that substantial discussions on the EU's automotive industry are essential, with a focus on leveraging fair competition and sustainable growth.

(With inputs from agencies.)