Biden to Sign Executive Order to Promote Economic Competition in U.S.

Bloomberg Quicktake: Now published this video item, entitled “Biden to Sign Executive Order to Promote Economic Competition in U.S.” – below is their description.

President Joe Biden will sign a sweeping executive order designed to promote competition across American industries, calling on regulators to increase scrutiny of technology companies, drug prices, shipping and more.

The president’s action will prompt the federal government to set new regulations on everything from airline luggage fees to non-compete clauses, according to a White House fact sheet. He will sign the order later Friday after delivering remarks on the American economy.

The order will direct federal agencies to scrutinize tech companies’ use of consumer data and more closely examine industry mergers, in a nod to concerns that companies like Facebook Inc., Amazon.com Inc., Apple Inc. and Alphabet Inc.’s Google use that data to gain excessive market power.

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