White House targets corporate giants in draft executive order
The White House is crafting an executive order aimed at promoting competition throughout the U.S. economy, a move aimed at lessening the stranglehold of dominant players in industries ranging from banking and agriculture to shipping and air travel, according to three people familiar with the discussions.
The order, which could be issued as soon as this week, fits in with a growing theme for President Joe Biden, who has elated progressives by appointing advocates of tougher antitrust enforcement to top jobs at the White House and agencies such as the Federal Trade Commission.
It would also mark a big shift in the government’s approach to the concerns about monopolies that have swelled during the 21st century: No longer content to just enforce antitrust laws, the Biden administration would use federal power to actively spark competition in a vast array of businesses.
The order isn’t final and hasn’t yet been presented to Biden, the people said.
The White House said Monday that the president has made no decisions about signing such an order.
Exclusive: White House order pushes antitrust enforcement throughout U.S. economy
WASHINGTON, June 28 (Reuters) – The White House is working on an antitrust executive order that aims to push government agencies to consider how their decisions will impact competition in an industry, according to two sources familiar with the matter.