Economic cost of new EU tech rules could top $100.5 bln, study says

BRUSSELS: The European Union’s plan to rein in U.S. tech giants with new rules could cost the 27-country bloc as much as 85 billion euros ($100.5 billion) in economic growth, Brussels-based think tank ECIPE warned.

Under the proposed rules, Facebook, Alphabet unit Google, Amazon and Apple could be forced to share data and banned from favouring their own services.

In a study sponsored by Google, due to be published this week and seen by Reuters, the European Centre for International Political Economy (ECIPE) said changing the regulatory approach could have a chilling effect on the EU economy.