Turkey is planning to introduce new rules to regulate major tech firms, similar to the European Union’s approach, which could provoke U.S. retaliation, Bloomberg’s Firat Kozok reports. The bill would prevent tech companies from favoring their own services and impose fines of up to 10% of annual revenue for non-compliance, and would require tech firms to allow third-party app installations, restrict user data processing, and provide clear information to commercial users, with provisions subject to revision before enactment. Publicly traded companies in the space include Apple (AAPL), Amazon (AMZN), Google (GOOGL), Meta (META), Nvidia (NVDA), and Tesla (TSLA).
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