President Biden Signs Executive Order Encouraging Greater Regulation of Tech and Communications Companies
Christopher W. Savage, Christopher G. Renner, and David M. Gossett of Davis Wright Tremaine write:
On July 9, 2021, President Biden issued a far-reaching Executive Order seeking to fight market concentration and anticompetitive practices across the entire U.S. economy, stating that “[a] fair, open, and competitive marketplace has long been a cornerstone of the American economy, while excessive market concentration threatens basic economic liberties, democratic accountability, and the welfare of workers, farmers, small businesses, startups, and consumers.”
Unfortunately, according to the Executive Order, “over the last several decades, as industries have consolidated, competition has weakened in too many markets, denying Americans the beneﬁts of an open economy and widening racial, income, and wealth inequality. Federal Government inaction has contributed to these problems, with workers, farmers, small businesses, and consumers paying the price.”
While the Biden Administration’s aggressive new stance against market concentration applies economywide, the Executive Order highlights several industries for particular attention and specifically “encourages” a number of agencies to take action to address the administration’s concerns—including both the Federal Communications Commission (FCC) and the Federal Trade Commission (FTC).
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