According to news from Agence France-Presse and Reuters in Brussels, the European Union announced on the 15th a new bill aimed at curbing tech giants. According to the new rules, US tech companies including Amazon, Apple, Facebook and Google may face a fine of 10% of their annual turnover or even be split. The reason is that the EU believes the strength of these tech giants poses a threat to competition and even democracy.

Margaret Westage, EU Commissioner for Competition Affairs, said that the newly announced draft EU Internet governance law aims to reverse chaos, restore order, and restrain the dominant Internet “gatekeeper” companies in the market. She said at a press conference: “The Digital Services Act and the Digital Market Act will protect freedom of speech while creating safe and reliable services.”

The European Union stated that Internet giants who severely violate competition rules will face huge fines, up to 10% of their turnover, and even risk being split.

It was reported that the European Union has also proposed that companies in serious and repeated violation of the law, threatening the safety of European citizens, will be fined 6% of their income or temporarily prohibited from entering the EU market.