European Union gets serious as bloc seeks independence from U.S. tech such as Uber, Apple and Mastercard [Fortune]
Mastercard Incorporated (MA)
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Source: Fortune
From Microsoft to Meta, Apple to Uber, cloud computing to AI, much of the day-to-day technology used by Europeans is American. The risks that brings were hotly debated before Trump returned to power, but now Europe is getting serious — pushing to favour European firms in public contracts and backing European versions of well-known US services. As Europe faces Trump's tariffs, and threatens to tax US tech unless the two sides clinch a deal averting all-out trade war, there is a growing sense of urgency. Tech sovereignty has been front and centre for weeks: the European Union unveiled its strategy to compete in the global artificial intelligence race and is talking about its own payment system to rival Mastercard. “We have to build up our own capacities when it comes to technologies,” EU tech chief Henna Virkkunen has said, identifying three critical sectors: AI, quantum and semiconductors. A key concern is that if ties worsen, Washington could potentially weaponise US digita
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