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   DealBook: 6 big tariff questions
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             February 21, 2026
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             The Supreme Court dealt a major blow yesterday to President Trump’s tariff-driven trade policy.
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             Tierney L. Cross/The New York Times
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          A $175 billion conundrum
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Good morning. Andrew here. We’ve spent the past 24 hours speaking with policymakers, business leaders, economists and legal experts to parse the implications of the
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Supreme Court’s landmark 6-3 ruling
         </a>
         <span>
          that overturned most of President Trump’s sweeping tariffs on U.S. trading partners.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Trump’s tariff-based war has been the most significant shift in American trade policy in decades. It reshaped relationships with longtime allies and forced an expansive redrawing of global supply chains. For over a year, the president used these duties as the ultimate form of leverage: a carrot-and-stick approach where he extracted concessions by raising or lowering trade barriers at will.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That cudgel is no longer his — at least not to wield so freely. Chief Justice John Roberts wrote that the words “regulate importation” in the law underpinning those levies, known as IEEPA, “cannot bear the weight” of giving a president the power to tax independent of Congress. Despite claiming the decision would have little impact, Trump was visibly frustrated at a White House news conference yesterday, explicitly chastising the conservative justices Neil Gorsuch and Amy Coney Barrett — both of whom he appointed — who joined the majority ruling.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “I think it’s an embarrassment to their families, if you want to know the truth,” Trump said. And while Supreme Court justices traditionally attend the State of the Union, scheduled for Tuesday, Trump
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          said of the majority
         </a>
         <span>
          : “They’re barely invited. Honestly, I couldn’t care less if they come.”
         </span>
        </p>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          What happens now?
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The administration says it won’t retreat. Shortly after the decision, Trump immediately announced that he would impose 10 percent global tariffs under Section 122 of the Trade Act of 1974.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          These levies won’t last long: Unlike IEEPA, Section 122 has a strict 150-day limit. After that, Trump must get permission from a divided Congress to extend them. And while IEEPA raised over $133 billion in 2025 alone, Section 122 is expected to generate
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          roughly $33 billion
         </a>
         <span>
          over its five-month window, according to the Tax Foundation, a nonpartisan tax policy advisory group — a drop in the $1.8 trillion federal budget deficit.
         </span>
        </p>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          A matter of refunds
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          In a dissent, Justice Brett Kavanaugh warned that the ruling could put the U.S. Treasury in a serious bind. “The U.S. may be required to refund billions of dollars to importers who paid the IEEPA tariffs, even though some importers may have already passed on costs to consumers,” he wrote.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          When asked on Fox News yesterday whether the government would actually pay out those refunds, Treasury Secretary Scott Bessent said, “If there is a payout, it’s just going to be the ultimate corporate welfare.”
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
         </span>
         <span>
          At the Economic Club of Dallas yesterday, he said
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
         </span>
         <span>
          he had a “feeling the American people won’t see it.”
         </span>
        </p>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Complex questions are emerging
         </span>
        </h2>
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
                Who is at the front of the line for refunds?
               </span>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Major multinationals — including Costco, Toyota, Goodyear and Alcoa —
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                have already sued the government
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                . Time is ticking: Under normal circumstances, companies face a complex formula and a tight deadline to seek reimbursement. If they miss that window, the right to a refund expires.
               </span>
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               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
                How might the government challenge refunds?
               </span>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                The Treasury Department is expected to argue in court that companies lack standing to claim a refund if they passed 100 percent of the tariff cost to consumers. If the company didn’t technically lose money, does the government get to keep the now-invalidated tax? This could take years to litigate. The issue came up in oral arguments, and as Kavanaugh wrote in his dissent, “the refund process is likely to be a ‘mess.’”
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
                What is Trump’s
               </span>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-style:italic;font-weight:700;font-family:arial,sans-serif;color:#000">
                next
               </span>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
                backup plan?
               </span>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                The Section 122 tariffs would expire in July. If Congress refused to extend them — especially with the midterm elections coming up — would the administration pivot to Section 301 (unfair trade practices) or Section 232 (national security)? The administration “will invoke alternative legal authorities to replace the IEEPA tariffs,”
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Bessent said yesterday
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                . He added that in addition to the 10 percent tariffs under 122, the administration could turn to “potentially enhanced Section 232 and Section 301” levies that would “result in virtually unchanged tariff revenue” this year.
               </span>
              </li>
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              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
                Are Trump’s trade deals still valid?
               </span>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Tariffs were the leverage he used to reach pacts with China, Britain, the E.U. and Japan. If the IEEPA levies are now invalidated, do those countries have a legal right to walk away from the concessions they made?
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle;font-weight:700;font-family:arial,sans-serif;color:#000">
                Will companies risk Trump’s wrath?
               </span>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Yesterday’s ruling opened the door to a potential tariff refund windfall
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                of more than $175 billion
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , according to the Penn Wharton Budget Model. But the claims process is hardly straightforward and could involve significant audits. Would companies want to risk that, or worse: a retaliatory investigation into them or their industry under Section 301?
               </span>
              </li>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span>
             IN CASE YOU MISSED IT
            </span>
           </h3>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Private lenders’ shares were battered.
         </span>
         <span>
          The stocks of nonbank lenders, including Apollo, Ares, Blackstone and especially Blue Owl Capital,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          fell sharply
         </a>
         <span>
          this week, after Blue Owl altered how investors in one of its retail-facing funds could withdraw their money. The move reignited worries about the stability of the private credit sector, with notable observers likening it to a “canary in the coal mine.” It also raised concerns about whether individual investors who embraced such vehicles could be hurt — which could be politically damaging.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Warner Bros. Discovery gave Paramount an opportunity to make a better offer.
         </span>
         <span>
          Paramount now has until Monday to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          present a best-and-final proposal
         </a>
         <span>
          to Warner Bros. Discovery, after weeks of contending that its current takeover bid was being unfairly dismissed in favor of one by Netflix. It’s unclear how Paramount will sweeten its offer, though the media giant has continued to argue that it faces a better chance of
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          winning over antitrust regulators
         </a>
         <span>
          than Netflix does.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Negative marks emerged for the U.S. economy.
         </span>
         <span>
          Data published yesterday showed that G.D.P. grew just 1.4 percent in the fourth quarter, down sharply from the previous quarter in part because of the federal government shutdown. Around the same time, the latest Personal Consumption Expenditures report showed core inflation
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          rose 3 percent in December
         </a>
         <span>
          , well above the central bank’s 2 percent target. And in an unwanted development for the White House, figures showed that
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          U.S. imports soared
         </a>
         <span>
          last year despite President Trump’s trade war.
         </span>
        </p>
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            <img alt="The European Parliament complex in Brussels on a rainy evening. In the foreground, two people walk beneath a blue umbrella." class="css-xsf469" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F02%252F21%252Fmultimedia%252F21db-lobbying-mcbp%252F21db-lobbying-mcbp-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzE2ODI1MDEuOTU1MDYzNn0:1vtnYD:BEkKVP3DFk0mLXwS5n2iL3w3cyiHqWjoWggDBJHxdVU" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              The biggest tech companies are bolstering their lobbying efforts in Europe as several countries weigh teen social media bans.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
              Ksenia Kuleshova for The New York Times
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Inside the social media lobbying machine
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          In November, Kim van Sparrentak, a Green Party lawmaker from the Netherlands, grabbed her headphones and headed for the exit of the European Parliament building. Moments earlier, she had participated in a heated debate over whether to bar young teenagers in Europe from social media platforms.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Then a statement on a podcast she was listening to stopped her cold.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          It was a message from Meta opposing the social media ban proposal, van Sparrentak told DealBook. That she was hearing it on a favorite podcast threw her. “I thought there was something wrong with me,” she added.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Van Sparrentak, who has become
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          a thorn in the side of U.S. tech giants
         </a>
         <span>
          , was in fact a prime target in the industry’s latest high-stakes lobbying efforts, Vivienne Walt reports.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          American tech companies, including Meta and Google, have tangled with regulators and lawmakers for years over data privacy, competition and artificial intelligence complaints. Now they face a new challenge: governments looking to block millions of teenagers from social media platforms like Instagram, YouTube and TikTok. They call the apps addictive and harmful, and some have tied excessive screen time to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          depression and suicide among adolescents
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Silicon Valley is fighting back. In the E.U., the Americans have spent vast sums in the past year on splashy billboard ads, courting on-the-fence politicians and bulking up their ranks of lobbyists. Their playbook is being closely watched in areas around the world that are weighing similar crackdowns, from
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          New Delhi
         </a>
         <span>
          to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Nebraska
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Van Sparrentak has also been glued to a seminal trial in Los Angeles over whether Instagram and YouTube are effectively “digital casinos.” Lawyers for the plaintiff are echoing points raised in Europe: that these platforms are engineered to hook young users through features like infinite scrolling, likes and auto-recommendations. Mark Zuckerberg of Meta
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          forcefully rejected the accusations
         </a>
         <span>
          on the stand this week.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Since December, when Australia introduced the world’s first social media ban for teenagers under 16,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          several Asian nations
         </a>
         <span>
          have announced similar measures.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          France
         </a>
         <span>
          ,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Germany
         </a>
         <span>
          ,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Spain
         </a>
         <span>
          , Britain and
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Denmark
         </a>
         <span>
          have all said they plan to unveil their own versions of the policy within months.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The argument over how to pry youngsters from their smartphones isn’t limited to Europe.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Eight U.S. states
         </a>
         <span>
          have introduced similar legislation.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          How the tech industry has battled such measures in the E.U. could provide a blueprint for its battles elsewhere, including in the U.S.
         </span>
        </p>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          High stakes
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Tech giants calculate that new regulations in the E.U.’s 27 countries could ripple across their global operations — for now, and for generations to come. Success in persuading politicians to reject these bans, the thinking goes, could have a meaningful effect on their bottom line.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          What these companies prefer are laws that require parents, not governments, to have the final say over children’s online habits. “They are going for the least bad option,” said Bram Vranken, a tech researcher for Corporate Europe Observatory, a watchdog group based in Brussels that monitors corporate lobbying.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Silicon Valley titans are lobbying aggressively for an alternative to bans. In closed-door conversations with European lawmakers, Meta has been highlighting its “teen accounts,” said an official for the company in Europe, who was granted anonymity to speak about private discussions. Such accounts were introduced in 2024 and give parents control over what users under 16 can see.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Some companies are also pushing for a “digital majority age” for social media, which would
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          require explicit parental approval
         </a>
         <span>
          for teenagers under 15 or 16 to download social media apps.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The companies also argue that barring teenagers from their platforms could push them into darker, unregulated corners of the internet. They are also difficult to police, the companies contend.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That last point rankles Laure Miller, a member of France’s National Assembly who successfully led a social media ban for under-15s that passed with a large parliamentary majority in January. If lawmakers shied away from measures that were difficult to enforce, “we would not have a highway code,” Miller said.
         </span>
        </p>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          ‘They are just bombarding us’
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Brussels is the focus of Silicon Valley’s lobbying efforts. While legislation is zipping through individual capitals like Paris, bills can easily bog down in the 720-member European Parliament.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Tech giants shelled out
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          about 151 million euros
         </a>
         <span>
          (about $178 million) last year on lobbying E.U. lawmakers. The industry’s lobbying surged more than 55 percent from 2021 to 2025, according to a report by Corporate European Observatory and another organization, LobbyControl. Meta was the biggest spender, at about €10 million last year. Google spent about €4.5 million.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          There are now 890 full-time tech lobbyists in Brussels, the report notes, more than there are members of the European Parliament. (Beyond campaigning against social media bans, the lobbyists are seeking to pause Europe’s A.I. Act and weaken data privacy rules.)
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Tech companies are also courting far-right European parliamentarians, who often serve
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          as swing votes
         </a>
         <span>
          . Meta alone held 38 meetings with these lawmakers between July 2024 and December 2025, according to Integrity Watch, a nonprofit focused on government transparency.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Last fall, a campaign sponsored by the
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Computer and Communications Industry Association
         </a>
         <span>
          , a trade group in Washington, plastered billboards in Brussels train stations, urging the E.U. to reject social media bans.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          The ads
         </a>
         <span>
          depicted European icons like Johannes Gutenberg, inventor of the printing press, and Guglielmo Marconi, the father of the radio — and claimed they would have been stifled under modern E.U. regulations.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          And in late November, Meta
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          took out a full-page ad
         </a>
         <span>
          in European newspapers. It featured a letter, signed by Antigone Davis, Meta’s global head of safety, arguing for a “digital majority age” across the bloc.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “They are just bombarding us,” van Sparrentak said.
         </span>
        </p>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          The payoff
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          If tech giants can win over politicians like van Sparrentak, they stand a chance at heading off a more costly measure, the E.U.’s draft proposal called the
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Digital Fairness Act
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That bill would blacklist features like infinite scrolling, autoplaying videos and engagement-based recommendations. It would probably require complex redesigns of platforms and hobble their marketing machines.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The Digital Fairness Act is expected to go to a vote in Brussels late this year. “We’re working like crazy on it,” Isabelle Pérignon, the consumer policy director at the European Commission, the bloc’s executive body,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          told lawmakers last month
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Silicon Valley’s efforts appear to be paying off. The European Commission has agreed to hold consultations on whether to accept a digital majority age instead of an all-out ban.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Asked to grade the tech lobbying efforts in Brussels, Vranken said: “It seems pretty effective.”
         </span>
        </p>
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