Joe Biden has signed an executive order on anti-competitive practices throughout the economy. Impact on America’s largest tech company.
Friday’s order is Biden’s latest action on antitrust issues, Delighted progressive Over the years, it has been driving further action against the power of the enterprise, especially among tech giants.
The White House said more than 12 federal agencies would be affected by the order, including 72 actions and proposals aimed at “quickly addressing some of the most pressing competitive issues in the economy as a whole.” ..
Biden at the White House signing ceremony Condemned the current era of business monopoly. “Rather than competing for consumers, they are consuming their competitors. Instead of competing for workers, they are looking for ways to gain an edge in the workforce,” he said.
“To be clear, non-competitive capitalism is not capitalism. It is exploitation.”
The latest action for big tech
The technical measures proposed in the order include restoring net neutrality, revisiting problematic mergers, encouraging rules against excessive corporate oversight, and preventing unreasonable cancellation fees from Internet service providers such as Verizon and AT & T. , And the “right to repair” law.
Biden “Pay special attention to” early competitor acquisitions, consecutive mergers, data accumulation, competition from “free” products, and the impact on user privacy “”, strengthened oversight of mergers by major tech companies I did.
This can affect previous mergers that were initially approved but recently approved Come down New scrutiny from the US Federal Trade Commission (FTC), including Facebook’s acquisition of Instagram in 2012.
Measures for the Big Tech acquisition will take place a few weeks after Biden Nominate Antitrust Law Scholar Lina Khan attended the FTC to showcase new initiatives targeting major tech companies.
The FTC also encourages limiting the ability of independent repair shops and farm equipment manufacturers to limit the use of do-it-yourself repairs, such as when a tractor company is blocking tractor repairs by farmers.
In the order, Biden also encourages the Federal Communications Commission to restore net neutrality. This is intended to prevent Internet service providers from preferring content and websites rolled back in 2017 under the Trump administration over others.
However, advocates of Internet freedom said that many of Biden’s actions to encourage the FCC could not move forward until the administration appoints a fifth member, as four committees have been stalled in recent years. I am.
Evan Greer, director of the digital rights group Fight for the Future, said, “The government needs to quickly appoint a commissioner to confront Internet service providers that have nothing to do with the telecommunications industry and help restore net neutrality.” It was. And who will expand broadband access for whom? “
“There are a lot of great words in the executive order, but in order for those words to mean something, we need to take some action,” she said.
Other affected industries
Not only was the order aimed at the tech sector, but Biden’s efforts to curb corporate strength required major companies to pay a “fair distribution” of taxes to fund his proposal. It also extends to his infrastructure planning.
“I’m not going to hit anyone, I’m just going to the game,” Biden said Wednesday when he talked with businesses about the need for a tax increase for the wealthiest Americans.
The order prohibits or limits non-competition contracts, facilitates job changes and wage increases in certain industries, allows changes to rules that pave the way for hearing aids to be sold in drugstores, and is excessive. Early termination fees are prohibited by internet companies.
In the aviation industry, the government requires companies to provide clear and advance disclosure of surcharges to make their customers more vulnerable to refunds.
The order facilitates the process of switching banks by requiring banks to allow customers to bring their financial data to another company.
This includes some provisions that may affect agriculture. We are urging the US Department of Agriculture to consider issuing new rules that define when meat can use the “Product of USA” label. Democrats and union leaders supported the order.
Amy Klobuchar, a Minnesota Democratic senator who chairs the Senate Judiciary Subcommittee on competition policy, said Biden’s presidential order needs to be strengthened by parliamentary action.
“Competition policy requires new energies and approaches to help us tackle the American monopoly problem,” Klobuchar said. “This means a law that updates antitrust law, but it also means rethinking what the federal government can do to promote competition under current law.”
The Associated Press contributed to this report.
Biden Targets Big Tech with Executive Order for Anti-Competitive Practices | Biden Administration
Source link Biden Targets Big Tech with Executive Order for Anti-Competitive Practices | Biden Administration