The Justice Department’s Antitrust Division and the Federal Trade Commission (FTC) actively engaged in the G7 Competition Authorities and Policymakers’ Summit, a pivotal event focusing on the challenges of competition in digital markets. Hosted in Tokyo by Japan’s Secretariat of Headquarters for Digital Market Competition and the Japan Fair Trade Commission, this summit was convened by the G7 Digital and Tech Ministers.
Represented by Chief of Staff Joshua Tzuker, with assistance from International Counsel Mark Niefer, the Antitrust Division extended its gratitude to Japan for orchestrating a productive and essential gathering. Chief of Staff Tzuker emphasized the importance of international cooperation in safeguarding consumers and workers against the evolving threats to competition in global digital markets. He hailed the summit as a significant stride toward strengthening collective efforts to preserve digital market competition today and in the future.
Read more: G7 Countries Seek ‘Common Vision’ For AI
In preparation for the summit, G7 member countries contributed to the “Compendium of Approaches to Improving Competition in Digital Markets,” providing insights into their individual efforts to address competition concerns in the digital landscape. Japan unveiled the “G7 Inventory of New Rules for Digital Markets” alongside an accompanying “Analytical Note,” which outlined new or proposed laws and regulations intended to bolster competition in the digital realm.
As the summit concluded, G7 competition authorities and policymakers issued a “Digital Competition Communique,” underscoring their shared commitment to enforcing competition laws and developing policies aimed at upholding the principles of fair competition within digital markets. The communique also shed light on competition concerns stemming from emerging technologies and highlighted the strategies employed by G7 competition authorities and policymakers to better understand and anticipate challenges posed by new technologies, such as generative artificial intelligence.
Source: Justice Gov
Featured News
Subscribers Defend $4.7 Billion Antitrust Verdict Against NFL in Court Filings
Jul 19, 2024 by
CPI
Von der Leyen Calls for Competition Policy to Boost EU Companies’ Growth
Jul 19, 2024 by
CPI
Vermont AG Sues Pharmacy Benefit Managers Over Drug Prices
Jul 18, 2024 by
CPI
Australians Face Increased Stamp Prices Following ACCC Approval
Jul 18, 2024 by
CPI
Live Nation Seeks Dismissal of DOJ Antitrust Allegations
Jul 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Private Equity Roll-Up Schemes
Jun 28, 2024 by
CPI
The FTC’s Focus on Private Equity is Warranted
Jun 28, 2024 by
CPI
Unraveling the Roll-Up: Private Equity’s Misunderstood Investment Strategy
Jun 28, 2024 by
CPI
Antitrust Focus on Private Equity Funds and Serial Acquisitions
Jun 28, 2024 by
CPI
Private Equity Roll-Ups Amidst Heightened Antitrust Enforcement
Jun 28, 2024 by
CPI