Federal Trade Commission Chairman Andrew N. Ferguson has commented on President Trump's decision to revoke the Biden-Harris Administration’s 2021 Executive Order related to competition policy.
In a statement, Ferguson said, "America’s markets are the most dynamic on Earth, responsible for enriching the entire world through technological innovations, lifting countless people out of poverty, and inspiring other countries to emulate our economic system. Our markets thrive when they operate freely and when the Federal government does not pick winners and losers but allows businesses to grow and innovate."
He added that the withdrawal marks a shift from previous policies. "Today’s withdrawal of the Biden-Harris Executive Order on competition marks another break between the last Administration’s failed policies and the Trump-Vance Administration's focus on protecting everyday Americans from anticompetitive practices through tailored action, promoting economic growth, and ensuring that American workers benefit from competition for their labor."
Ferguson also criticized aspects of the revoked order. "The now-withdrawn Executive Order encouraged top-down competition regulations, and established a flawed philosophical underpinning for the Biden-Harris Administration’s undue hostility toward mergers and acquisitions. Consistent with President Trump’s recentExecutiveOrders, the Trump-Vance FTC is devoting its resources to enforcing the antitrust laws passed by Congress, for the benefit of all American consumers and workers—lowering the cost of living, improving the quality of goods and services, fostering new innovations, and leading to ever-greater prosperity for our Nation."
The Federal Trade Commission continues its mission to promote competition as well as protect consumers. The agency also reminds individuals that it will not demand money or make threats in its communications.
