US President Joe Bidenwill sign a sweeping new executive order aimed at combating anti-competitive practices in Big Tech, labor and many other areas. The White House aims to promote competition among American industries while calling on regulators to increase scrutiny of tech companies, drug prices, transportation and more.
The order includes 72 actions and recommendations. The U.S. federal government will set new regulations on everything from airline baggage fees to non-compete clauses, according to a White House briefing. The administration will sign the order today after making remarks about the U.S. economy.
The order will direct federal agencies to scrutinize the use of consumer data by tech companies and to more closely scrutinize mergers in the industry, as there is concern that Big Tech – such as Facebook, Amazon, Apple and Google – are using that data to gain too much market power.
Read also: US Congress: Legislation that could weaken Big Tech
The order would also require the Federal Communications Commission (FCC) to reinstate net neutrality rules, which prohibited internet providers from blocking or slowing down certain content or speeding up delivery for a price. Those rules were implemented under former President Barack Obamabut were reinstated under former President Donald Trump.
The president will also call on federal health officials to lower prescription drug prices and come up with plans to import drugs from Canada, where they are cheaper. Trump has also encouraged this idea.
Biden will also urge the Federal Trade Commission (FTC) to stop drugmakers from paying their generic counterparts to delay the market entry of lower-priced versions of the drug. This idea is part of pending legislation in the Senate and is in line with campaign promises Biden made last year.
The order calls on the top antitrust agencies – the Department of Justice (DoJ) and the FTC – to vigorously enforce antitrust laws and to consider challenging past “bad mergers” that went unchallenged by previous administrations.
The President is also encouraging the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency to increase scrutiny of bank mergers and is asking the Consumer Financial Protection Bureau to allow customers to download their banking data and take it with them.
See also: Big Tech on new privacy laws in Hong Kong
Although writing and implementing new rules and regulations could take months and will be largely handled by individual departments and agencies, the White House has made it clear that it expects the executive order could lead to vital changes that will have a significant impact on many industries.
With the order, the President will ask the Justice Department to work with regulators against foreign shipping alliances and monopolistic rail routes that the administration believes have raised shipping costs nationwide.
The executive order would also urge the FTC to prohibit or limit non-compete agreements and prohibit unnecessary professional licensing restrictions.
In addition, the administration will seek to strengthen antitrust guidance, in an effort to prevent employers from colluding to lower wages or reduce benefits by sharing compensation information with each other.
Proposal: Lina Khan: Biden nominates Big Tech critic to chair FTC
The White House will also ask the FTC to issue new rules that encourage “right to repair,” in an effort to prevent companies from limiting consumers’ ability to use independent repair shops or do it themselves. The action could potentially affect everyone from farm equipment manufacturers requiring tractor repairs to dealerships and Big tech companies like Apple and Microsoft that limit repair work on cell phones and game consoles.
The order will include a number of other actions designed to boost the agricultural industry, including new rules that make it easier for farmers and ranchers to sue large processors.
Biden's action would also require the Department of Agriculture to update current "Made in the USA"to prevent companies from labeling foods produced abroad as American, even if they were processed domestically.
Finally, the President will direct the Department of Transportation to issue new rules requiring airlines to quickly refund fees if passengers' luggage does not arrive on time or if in-flight wireless Internet does not work properly.
