Perspectives on transatlantic cooperation: Digital Economy

11-07-2016

Digitalisation is transforming our societies – new types of business activity are emerging and consumer habits are rapidly evolving. The internet, broadband networks, mobile applications, IT services and hardware form the basis of the digital economy which has a dynamic that is fundamentally different to that of more traditional sectors: it strengthens cooperation, enables a higher volume of cross-border activity and is a major factor in increasing prosperity and growth overall. In this context, regulators and legislators are faced with a dilemma: How to legislate at national or at regional level on issues which are truly global? How to avoid unhealthy regulatory and taxation competition between the US and the EU? How to ensure that the US and the EU join forces regarding the development of a global digital economy? Will a joint approach of leading global economies lead to global impacts? These are just a few of the questions to which the EU and the US must find answers in order to allow the smooth and fair development of the digital economy and digital transatlantic and global markets. This briefing forms part of a broader research project on the perspectives on transatlantic cooperation in the US election year, requested by the Chair of the European Parliament's delegation for relations with the United States.

Digitalisation is transforming our societies – new types of business activity are emerging and consumer habits are rapidly evolving. The internet, broadband networks, mobile applications, IT services and hardware form the basis of the digital economy which has a dynamic that is fundamentally different to that of more traditional sectors: it strengthens cooperation, enables a higher volume of cross-border activity and is a major factor in increasing prosperity and growth overall. In this context, regulators and legislators are faced with a dilemma: How to legislate at national or at regional level on issues which are truly global? How to avoid unhealthy regulatory and taxation competition between the US and the EU? How to ensure that the US and the EU join forces regarding the development of a global digital economy? Will a joint approach of leading global economies lead to global impacts? These are just a few of the questions to which the EU and the US must find answers in order to allow the smooth and fair development of the digital economy and digital transatlantic and global markets. This briefing forms part of a broader research project on the perspectives on transatlantic cooperation in the US election year, requested by the Chair of the European Parliament's delegation for relations with the United States.