EU ventures to regulate e-commerce's breakneck growth
The European Union is stepping up its oversight of major online platforms (VLOPs) on multiple fronts. Today Parliament debates reforms to the customs code to protect consumer rights in the digital space, while the European Commission demands answers from Chinese e-commerce giant TEMU. The company is expected to respond to the Commission's concerns regarding consumer protection. Since its launch in July 2022, TEMU has rapidly established itself as a leading player in the EU e-commerce market, now boasting 75 million active monthly users. Advocacy groups have raised alarms about potential risks to shoppers' health and privacy, citing issues with toxic materials in inexpensive products and allegations of unauthorized data sales. The customs’ code reform, now in the works at the EU Parliament, could better protect online shoppers, but implementation is likely to take more than a decade. Join host Giada Santana and tech editor Eliza Gritski as they discuss Eu regulators’ efforts to keep pace with the fast-evolving online landscape.