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White House to hold second Competition Council meet on Monday -federal officials -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: U.S. president Joe Biden signs an executive directive on “promoting competition within the American economy”, as his cabinet members stand by during an event at the White House’s State Dining Room, Washington U.S.A., July 9, 2021. REUTERS/Evely

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By David Shepardson

WASHINGTON, (Reuters) – The White House will host the second meeting its Competition Council Monday. Federal agencies announced on Sunday that they were.

Two officials from federal agencies confirmed to Reuters the existence of the meeting, and said that they planned for their departments to be there. Although the White House didn’t confirm that the meeting was going ahead, it said that President Joe Biden would be there to meet with members of his Administration on Monday about efforts to reduce prices for working families.

Biden signed an executive order that promotes more competition within the U.S. Economy in July. This ordered agencies to combat anti-competitive practices across all industries, from labor and drugs to agriculture. The order established the council and its first meeting was held in September.

In July, the order directed antitrust agencies that they should focus on agriculture, health, technology, and labor. “Lack of competition causes consumers to pay more and workers to earn less,” said the White House.

It is presided over by the White House National Economic Council’s head. The group includes many cabinet agencies, such as Justice, Transportation, Commerce, and Agriculture, and the Federal Trade Commission, Securities and Exchange Commission, and Federal Communications Commission chairmen.

Biden has made efforts to increase competition in many industries, including U.S. meat production.

In September, the Justice Department sought to end an alliance between American Airlines and JetBlue Airways (NASDAQ) Corp.

The U.S. Antitrust Enforcement Office announced last week that it would be revising merger guidelines to help combat illicit deals.

FTC and the Justice Department stated that U.S. industry had become more concentrated, and that a spike in merger filings between 2020 and 2021 indicated that this situation would worsen.

Congress is also examining technology companies and the second council meeting could be scheduled. The Senate approved a bill last week to bar technology giants such as Amazon.com (NASDAQ 🙂 giving preference on their websites to their own business.

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