Kristian Stout on Foreign Regulators and US Tech Firms
ICLE Director of Innovation Policy Kristian Stout was quoted by Communications Daily in a story about how U.S. tech firms are reacting to regulatory mandates imposed by foreign jurisdictions. You can read the full piece here.
U.S. firms are finding themselves stuck between conflicting regulatory obligations from the EU’s General Data Protection Regulation, its Digital Markets Act and the AI Act, said Kristian Stout, International Center for Law and Economics (ICLE) director-innovation policy. The net result is skyrocketing compliance expenses, he said. In addition, the EU’s regulatory approach is cumulatively functioning as an industrial policy that helps big European firms maintain market dominance because they have the resources to stay in compliance while startups and new entrants don’t. Panelists said compliance difficulties also chill competition from U.S. firms