This is President Biden’s response to complaints about the monopolies of big business companies like Apple, Google, and the likes of Amazon….His executive order will be far reaching involving health, farming, transportation, labor and others….
Congress will not address this since it’s is against the culture of the Republican Party….
The president has laid out a plan to promote competition in the health care sector, including directing the Food and Drug Administration (FDA) to work with states on importing prescription drugs from Canada, and direct officials to develop a “comprehensive plan” to lower drug prices in 45 days.
In addition Biden will direct the Federal Trade Commission (FTC) to evaluate hospital mergers that could be harmful to patient care, especially in rural communities.
Under rules for “Big Tech” companies, Biden wants greater condemnation for mergers between technology companies “especially by dominant internet platforms, with particular attention to the acquisition of nascent competitors, serial mergers, the accumulation of data, competition by ‘free’ products, and the effect on user privacy.”
The president has also indicated he wants to crack down on companies gathering personal information, and will direct the FTC to create rules on surveillance and data acquisition…
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On Wednesday, attorneys general of 36 states and Washington, D.C., sued Google, alleging its control over its Android app store violates antitrust laws. The lawsuit, led by Utah Attorney General Sean Reyes (R) and New York Attorney General Letitia James (D), is the third filed by states against the Silicon Valley giant.
The FTC will also establish rules against unfair competition methods on internet marketplaces such as “killer acquisitions,” a method that the administration said is “meant to shut down a potential competitive threat.”
It would encourage the Federal Communications Commission (FCC) to restore net neutrality rules, which were undone under the Trump administration…
Note…
If you haven’t noticed?
President Biden is following past President’s in using his executive power to deal with things Congress and his opposition won’t ….
Biden Moves to Import Cheaper Canadian Drugs
President Joe Biden will direct the FDA “to work with states on developing a plan to import cheaper versions of prescription drugs from Canada, a controversial move that fizzled under the Trump administration,” the Washington Examiner reports.
Axios…
The bottom line: None of this changes actual antitrust law, to which judges remain beholden. But Biden is staking out a political philosophy that consolidation is antithetical to competition, and likely believes that the threat of regulatory action could scare off some deals from getting signed….
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