White House Preparing Executive Order for Antitrust Investigation Targeting Big Corporations

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[Asia Economy Reporter Yujin Cho] The White House is preparing an antitrust executive order directing government agencies to review the impact of policy decisions on industrial competition. This measure targets all sectors of the industry, including big tech companies.

On the 28th (local time), major foreign media such as the U.S. political outlet Politico, citing multiple sources, reported this. The executive order, currently in its final preparation stage, will cover a wide range of industries from banking to agriculture, shipping, aviation, and travel.

Foreign media noted that although the draft is not final, it could be released as early as this week. Sources said the executive order has not yet been submitted to President Biden, and he has not decided whether to sign it. The order is based on a report drafted during the Barack Obama administration in 2016.

This executive order is expected to accelerate the Biden administration's antitrust regulatory plans, which were announced during his presidential campaign. Although the draft prepared by the White House does not specify particular companies, big tech firms such as Google, Facebook, Apple, and Amazon are likely to be the main targets.

Earlier, President Biden strengthened antitrust enforcement by appointing Tim Wu, a proponent of antitrust reform and a critic of big tech, as Special Assistant to the President for Technology and Competition Policy at the National Economic Council, and Lina Khan as Chair of the Federal Trade Commission (FTC).

President Biden is also reportedly considering John Sallet and Jonathan Kanter, officials from the Obama administration, for the position of Deputy Assistant Attorney General for Antitrust at the Department of Justice.

Politico assessed that President Biden is broadly driving regulations against companies that undermine fair competition by using federal government authority. Although the Obama administration previously issued an executive order to block mergers threatening fair trade, no government agency took concrete action.

This content was produced with the assistance of AI translation services.