Biden: ‘Heart of American Capitalism Is Open and Fair Competition’

Bloomberg Quicktake: Now published this video item, entitled “Biden: ‘Heart of American Capitalism Is Open and Fair Competition'” – below is their description.

President Joe Biden will push for wider competition across the U.S. economy, targeting three industrial sectors where his administration believes consolidation has led to higher prices — agriculture, technology and drugs — in a sweeping executive order he’ll sign Friday.

Biden plans to underscore that he’s a capitalist and that competition is the engine of the U.S. economy in a speech accompanying the order, according to a White House official. But he wants the country to return to the “trustbusting mentality” of past presidents such as Theodore Roosevelt and Franklin Roosevelt, the official said.

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