Trump Rolls Back Biden-Era Competition Order

The Biden order, signed in July 2021, had sought to curb practices the White House said inflated prices and limited consumer choice, while promoting stricter scrutiny of mergers and acquisitions. It was championed by senior Biden economic aides with ties to Senator Elizabeth Warren, who helped create the Consumer Financial Protection Bureau under former President Barack Obama. That agency, which Trump has criticized since taking office, now faces plans for a 90% reduction in staff.

Per Reuters, the U.S. Justice Department welcomed Trump’s revocation of the order, framing it as part of an “America First Antitrust” strategy prioritizing free-market principles. The department said it is advancing efforts to streamline the merger review process under the Hart-Scott-Rodino Act and revive targeted consent decrees designed to address specific competitive concerns.

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Critics, however, warned the move could harm consumers and small businesses. Hannah Garden-Monheit, who served as Biden’s competition policy director, argued that the action undermines protections for ordinary Americans. “This shows President Trump’s claim he would ‘Make America Competitive Again’ was a sham. Instead of enforcing the competition laws, he’s throwing Main Street businesses and workers under the bus while doing favors for the rich and powerful,” she said.

Consumer advocates have pointed to billions in losses tied to weakened oversight. A June analysis by the Student Borrower Protection Center and the Consumer Federation of America estimated that Americans have paid at least $18 billion in higher fees and lost compensation due to corporate misconduct, a problem Biden’s order sought to address.

The reversal underscores the sharp policy divide between the two administrations on regulating corporate behavior and enforcing antitrust laws. While Biden’s team emphasized regulatory intervention to address market concentration, Trump’s approach leans toward deregulation and industry flexibility, signaling a broader ideological shift in Washington’s handling of competition policy.

Source: Reuters