Tech CEOs in Europe are urging the European Union (EU) to adopt a “Europe-first” approach in response to the upcoming presidency of Donald Trump in the United States. These executives are concerned about the potential repercussions of Trump’s “America First” agenda and are seeking to reduce Europe’s reliance on critical technologies from the U.S.
During the Web Summit Conference in Lisbon, Portugal, various European tech company CEOs expressed their worries about the perceived unpredictability of President-elect Trump. They found common ground in addressing the dominance of Big Tech in the technology sector. The victory of Trump in the U.S. presidential election was a key topic of discussion during the summit, as reported by CNBC.
Andy Yen, CEO of Proton, a Swiss VPN developer, emphasized the need for Europe to assert itself and reverse the dominance of U.S.-based firms in technologies such as web browsing, smartphones, and artificial intelligence. Yen stated that Europe should be more aggressive and bold, especially in light of Trump’s “America-first” stance. He criticized China and the U.S. for playing “extremely unfairly” over the past two decades.
Thomas Plantenga, CEO of Lithuania-based Vinted, a used clothing resale app, echoed Yen’s sentiments. He urged the EU to make strategic choices to ensure that Europe can stand on its own and compete with other continents. Plantenga emphasized the importance of investing in education, innovation, and self-sufficiency to avoid being left behind.
Another significant concern discussed by EU CEOs was the dominance of artificial intelligence, which is currently concentrated in the U.S. The European Union has been taking steps to challenge the dominance of Big Tech by introducing new regulations and pursuing legal actions. The EU’s antitrust regulators are preparing to fine Apple under the Digital Markets Act (DMA) for alleged tech rule violations. Additionally, the EU recently secured a victory when the highest court in Luxembourg upheld a 2017 fine of 2.42 billion euros against Google for favoring its own comparison-shopping service.