Biden wants to tighten antitrust rules to contain big tech companies

Biden wants to tighten antitrust rules to contain big tech companies

The US administration is working on an executive order that will strengthen the powers of federal agencies against the emergence of monopolies, especially in the digital sphere

(Photo: Jim Watson / Getty Images) The White House is preparing a executive order to promote competition in various sectors of the US economy and contain monopoly tendencies in certain sectors. According to international sources, the order should affect digital multinationals, up to those of transport and agriculture and would authorize the direct intervention of government agencies to ensure competition.

According to what reported by Reuters, the order could be issued this week and would mark a change in the US government's approach to large corporations. Administration led by President Joe Biden would like to play a bigger role in antitrust legislation by actively getting federal agencies to step in.

Order would lend further support to a range of measures the US government is already taking to limit the emergence and establishment of monopolies in the domestic economy. Recently, the White House has appointed strong antitrust policy advocates in several strategic positions, such as Lina Khan, a critical academic of big tech and appointed chairman of the Federal Trade Commission, or Tim Wu, a media law expert appointed special assistant on policy. of competition. Furthermore, at the same time, Congress is working on new antitrust legislation to limit the power of companies like Facebook, Alphabet Google, Amazon, Apple and avoid the consolidation of possible monopolies.

Although there are no precise details, according to what was reported by Politico, the order should require the two antitrust agencies of the United States, the Department of Justice and the Federal Trade Commission, to update the guidelines on corporate mergers and to include other specific guidance for preserving competition between industries.

The administration led by Barack Obama had issued a similar order in 2016 calling on executive branch agencies to promote competition and consumer access to information. However, few agencies were able to take concrete steps, as the order was only formalized at the end of the former president's term.

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