Amazon CEO Jassy urges lawmakers to oppose antitrust legislation: Report

video

Fox Business Flash top headlines for June 17

Check out what’s clicking on FoxBusiness.com.

Amazon CEO Andy Jassy has been working the phones, urging senators to oppose antitrust legislation targeting Big Tech giants, according to a new report.

Citing three sources familiar with the situation, Politico reported that Jassy called multiple lawmakers in recent weeks in an effort to stop the American Innovation and Choice Online Act being considered in the Senate.

Andy Jassy, chief executive officer of Amazon.com. (David Paul Morris/Bloomberg via Getty Images  |  iStock / Getty Images)

TickerSecurityLastChangeChange %
AMZNAMAZON.COM INC.106.22+2.56+2.47%

A spokesperson for Senate Majority Leader Chuck Schumer confirmed to Politico that the Democrat from New York spoke with Jassy, but Schumer reiterated during the call that he supports the legislation. 

AMAZON REPORTS BLOCKING 4 BILLION COUNTERFEIT LISTINGS IN 2021

An Amazon spokesperson told FOX Business in a statement that Jassy "meets with policymakers on both sides of the aisle regarding policy issues that could affect our customers."

Sen. Amy Klobuchar, D-Minn., talks with Sen. Charles Grassley, R-Iowa, before a meeting at the U.S. Capitol June 15, 2022, in Washington, D.C.  (Chip Somodevilla/Getty Images / Getty Images)

The bipartisan bill, co-sponsored by senators Amy Klobuchar, D-Minn., and Chuck Grassley, R-Iowa, would prohibit major digital platforms from favoring their own products over competitors' and places restrictions on dominant firms' use of nonpublic data.

IN BLOW TO APPLE, EU AGREES SINGLE MOBILE CHARGING PORT

Amazon, Google and Apple have all lobbied against the proposed legislation, which would put in place significant limitations to the companies' use of their own products.

Apple and Google are also pushing back against legislation aimed at reining in Big Tech. (iStock / iStock)

TickerSecurityLastChangeChange %
GOOGALPHABET INC.2,157.31+24.59+1.15%
AAPLAPPLE INC.131.56+1.50+1.15%

Proponents of the bill say, if passed, it would rein in Big Tech and expand competition, allowing smaller companies greater opportunities for growth. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

But opponents argue the legislation would actually threaten data security and diminish the strength of the U.S. tech industry as a whole, with some saying it could even make the country more vulnerable to China.

Source: Read Full Article

click fraud detection