Investing.com-- The European Commission is reviewing its probes into U.S. tech giants including Apple (NASDAQ:AAPL), Meta (NASDAQ:META), and Alphabet’s (NASDAQ:GOOGL) Google, the Financial Times reported on Tuesday, as the companies petition with the incoming Trump administration for better regulatory conditions.
Brussels could reduce or limit the scope of its ongoing investigations into the U.S. tech giants, the FT report said, and will likely reassess all cases launched since March 2024 under the European Union’s Digital Markets Act.
The DMA was set in place to limit monopolistic practices by tech giants within the bloc and also enforced stricter moderation on content and more consumer-friendly practices.
The FT report said that all decisions and potential fines on the tech firms will be paused until the review is completed.
The EU has several ongoing probes into U.S. tech firms for violations of consumer law, and had levied steep fines and regulatory crackdowns against tech giants such as Google and Apple over said violations.
Tuesday’s report comes as a slew of major American tech CEOs were seen donating to President-elect Donald Trump’s inauguration fund, while raising the prospect of deregulation especially in online content moderation and artificial intelligence, under Trump.
Trump is set to take office on January 20.