"Biden's Trade Policy Shifts Away from Tech Giants"
The Biden administration has shifted its stance on digital trade rules, breaking away from the interests of tech giants like Meta, Google, and Amazon. The previous policy, which aimed to export the American laissez-faire approach to tech, would have shielded tech companies from regulations on data handling, privacy, and monopolistic behavior. However, the Biden administration's reversal has been praised by smaller tech companies and critics of monopolistic behavior. While the change has surprised American allies and foreign business leaders, it presents an opportunity to strike a global consensus that balances the needs of tech companies with regulations to protect society and competition. By doing so, the administration can restore faith in free trade and demonstrate that trade agreements can be fair and inclusive.