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For those in the cross hair, governments are adding to the complexity with new laws and regulations. The US government has imposed national security-driven procurement restrictions on federal contractors that impact their supply chains. The European Union passed the Digital Markets Act to impose limits on digital platforms, including rules on how they can expand and the obligation to offer customers access to rival services.
Further, recent geopolitical challenges have also resulted in new export control measures, including new bans on export of sensitive technology, semiconductors, telecommunication, encryption security, software and sensors, that further increase complexity to ensure compliance.
For example, the Export Administration Regulations administered by the U.S. Department of Commerce’s Bureau of Industry and Security are “extraterritorial,” with restrictions that also apply to items made outside the US from US-origin software or technology. As a result, technology companies will need a holistic view of their upstream value chains to ensure they are in compliance with these and any future regulations.