Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

White House Preparing Executive Order Over Antitrust Concerns

White House Preparing Executive Order Over Antitrust Concerns

The drive to release such an order comes as House lawmakers are moving forward with sweeping antitrust legislation aimed at restraining the power of Big Tech firms.
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.

The drive to release such an order comes as House lawmakers are moving forward with sweeping antitrust legislation aimed at restraining the power of Big Tech companies such as Facebook Inc, Alphabet Inc's Google, Amazon.com Inc and Apple Inc and staving off corporate consolidation.

It was not immediately clear how such an order would aid those efforts on Capitol Hill and rein in the power of large tech companies that have thrived for years without much regulation.

One of the sources described the order as "well developed" and said it builds on a 2016 report by the White House Council of Economic Advisers. Both sources said it is being worked on by former Obama administration officials who now work for President Joe Biden.

The sources said no decision has been made on when or if the order will be released.

White House spokesperson Emilie Simons did not comment on specific details, but said the president made clear during his campaign that he is committed to increasing competition in the American economy, including by banning non-compete agreements for workers and protecting farmers from abusive practices.

"There is no final decision on any actions at this time," she said.

The White House has recently appointed advocates of antitrust reform to key positions. Earlier this month, Biden named Lina Khan, a prominent critic of Big Tech, as chair of the Federal Trade Commission.

This followed the appointment of Tim Wu, an outspoken critic of Google, Facebook and Amazon, as special assistant to the president on competition policy.

Biden, a Democrat, has yet to name someone to lead the Justice Department's Antitrust Division, and is believed to be considering Jon Sallet and Jonathan Kanter, both of whom are involved in fighting Google.

The push by Democrats to go after the monopoly power of large tech companies is not new. The House antitrust subcommittee last year released a scathing report on the tech industry after a 16-month investigation, declaring that Amazon, Apple, Facebook and Google engaged in a variety of monopolistic behavior.

Big Tech companies, in particular, face similar challenges to their power around the world, including antitrust investigations in Europe and new legislation in Australia and India to curb their power.

The companies have denied that their business practices hurt competition and consumers.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
×