It directs the FTC to issue rules to address competition concerns from Big Tech companies, Facebook, Apple, Alphabet's Google and Amazon, and limit 'killer acquisitions' where large internet platforms acquire potential competitors.įTC Chair Lina Khan and the acting head of the U.S. The executive order will direct the Department of Justice and Federal Trade Commission (FTC) to carefully review mergers, and to challenge prior deals that have closed. Reuters first reported Biden's plan to issue a competition executive order in late June and subsequently published stories on how it will impact industries such as farm equipment manufacturers, banking, rail and sea shipping. The administration also seeks to make it easier for customers to switch banks and take their transaction data with them, and restore net neutrality rules that require companies to treat all internet services equally. economy are new rules to mandate ending excessive internet contract termination fees, allow hearing aids to be sold over the counter and end non-compete clauses for millions of workers and many occupational licensing requirements.īiden's order pushes the Agriculture Department to act to stop what the White House called 'abusive practices of some meat processors,' reacting to farmers and ranchers who sometimes say they face too few buyers for their animals. Among the administration's plans to open up the U.S.

Bidens first executive order