The proposed framework, known as the Digital Markets Act, could label big companies such as Meta or Google, Facebook’s parent company, “gatekeepers” and subject them to new requirements and prohibitions.
During negotiations on Thursday evening, European lawmakers also agreed that major online messaging services such as WhatsApp and iMessage will need to be compatible with other messaging providers. The change could allow users to send messages across different platforms – a major departure from how these services currently work.
Service providers subject to the law must comply with its requirements within six months of their designation as gatekeeper.
The upcoming rules have been heavily lobbied by Silicon Valley giants.
“While we support many of the DMA’s ambitions around consumer choice and interoperability, we remain concerned that some of the rules could reduce innovation and choice for Europeans,” Google said. “Our focus at all times will be to continue to deliver the best product experiences to our European users.”
The landmark agreement highlights the growing movement by policymakers around the world to curb tech platforms, Vestager said.
“It’s a global movement and I think it’s really good,” she said. “The more we can inspire each other to enforce the law and ensure digital markets are fair, open and contestable, the better.”
Rishi Iyengar contributed to this report.