Turkey is planning new rules to rein in the dominance of major tech firms, imitating the European Union’s regulatory approach at the risk of provoking US retaliation.

The bill, set to be submitted to parliament soon, would prevent technology companies such as Apple Inc., Alphabet Inc.’s Google, Meta Platforms Inc. and Amazon.com Inc. from favoring their own services in search engines, app stores, or marketplaces, senior Turkish officials told Bloomberg. The bill is backed by the ruling party and was prepared in collaboration with Turkey’s antitrust authority.

Failure to comply could result in fines of up to 10% of a company’s annual revenue, added the officials, who asked not to be identified.

— Bloomberg