Joe Biden has signed an executive order targeting anti-competitive practices across the economy that could have major ramifications for America’s largest tech companies.
Friday’s order is the latest of Biden’s actions on anti-trust issues, which have pleased progressives pushing for more action on corporate power – particularly among big tech companies – for years.
More than a dozen federal agencies will be affected by the order, which includes 72 actions and suggestions meant to “promptly tackle some of the most pressing competition problems across our economy”, the White House said.
At a White House signing ceremony, Biden denounced the current era of business monopolies. “Rather than competing for consumers they are consuming their competitors; rather than competing for workers they are finding ways to gain the upper hand on labor,” he said.
“Let me be clear:…