President Donald Trump signed a brief executive order on Aug. 13 revoking an order from his predecessor that directed agencies to crack down on anti-competitive practices in industries like pharmaceuticals and labor.
In July 2021, President Joe Biden signed an order urging federal agencies to address rising consumer costs, focusing on labor, health care, technology, and agriculture.
Referring to antitrust laws as the “first line of defense against the monopolization of the American economy,” the order sought to lower prices on goods and services like broadband internet, airline baggage fees, and prescription drugs by promoting competition.
At the time, Biden said, “To keep our country moving, we have to bring fair competition back to this economy” and that he was signing the order to “lower prices, increase wages, and take another critical step toward an economy that works for everyone.”…
Trump Rescinds Biden’s Order on Promoting Economic Competition
