President 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 order will also ask the Federal Communications Commission to reinstitute net neutrality rules that barred internet providers from blocking or slowing certain content or speeding up delivery for a price. Those rules had been implemented under former President Obama but rolled back under former President Trump.The tech-heavy Nasdaq 100 futures index was little changed early Friday after fluctuating between gains and losses. Other U.S. index futures advanced.
The order calls on the leading antitrust agencies — the Justice Department and the FTC — to vigorously enforce antitrust laws and considering challenging prior “bad mergers” that were not challenged by past administrations. One element of the order would ask the Justice Department to work with regulatory agencies against foreign-owned shipping alliances and monopolized rail routes that the administration believes have driven up shipping costs nationwide.
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