Tech CEOs in Europe are urging the European Union (EU) to adopt a “Europe-first” mindset in response to the upcoming presidency of Donald Trump in the United States. Concerned about the potential consequences of Trump’s “America First” agenda, these executives are calling for a reduction in reliance on critical technologies from the U.S.
During the Web Summit Conference in Lisbon, Portugal, various CEOs of European tech companies expressed their apprehensions regarding the perceived unpredictability of President-elect Trump. They believe that it is crucial for Europe to assert itself and challenge the dominance of U.S.-based firms in areas such as web browsing, smartphones, and artificial intelligence.
Andy Yen, CEO of Proton, a Swiss VPN developer, emphasized the need for Europe to be bold and aggressive in reversing the technological dominance of American companies. Yen highlighted that Europe has traditionally adopted a globalist mindset, aiming to be fair to all nations. However, he argued that China and the U.S. have not reciprocated this fairness and have played unfairly for the past two decades. With the election of Trump, who strongly advocates for America’s interests, Yen believes it is time for European leaders to prioritize Europe’s interests.
Thomas Plantenga, CEO of Vinted, a Lithuania-headquartered used clothing resale app, echoed Yen’s sentiments. Plantenga emphasized the importance of Europe making the right choices to ensure the continent can stand independently and compete with other regions. He stressed the need for Europe to invest in its own safety, energy, education, and innovation to avoid being left behind.
Another significant concern discussed among EU CEOs was the dominance of artificial intelligence (AI), which is currently concentrated in the U.S. The European Union has been taking steps to challenge the dominance of major U.S.-based tech players by introducing new regulations and pursuing legal actions. The EU’s antitrust regulators are preparing to fine Apple under the Digital Markets Act (DMA) for alleged tech rule violations. Additionally, the EU recently scored a victory when its highest court upheld a 2017 fine against Google for favoring its own comparison-shopping service.