Trump overturns Biden’s antitrust order, reshaping US economic policy
3 Min Read
US President Donald Trump revokes Joe Biden’s 2021 executive order aimed at promoting competition in the US economy.
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US President Donald Trump speaks to the press after signing a proclamation renaming the Gulf of Mexico as the Gulf of America aboard Air Force One, on February 9, 2025. (Roberto Schmidt/ AFP)
US President Donald Trump, on Wednesday, August 13, revoked an executive order issued by his predecessor Joe Biden in 2021 aimed at promoting competition in the US economy, the White House confirmed.
The decision marks a significant rollback of a key Democratic Party initiative focused on reducing corporate concentration and curbing anti-competitive behavior across sectors such as agriculture, pharmaceuticals, and labor.
The Republican Party-led administration has framed the move as part of a broader “America first antitrust” strategy, with the Justice Department stating it prioritizes free markets over what it called the “overly prescriptive and burdensome approach” under the Biden administration.
"This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person," the White House release stated.
The Justice Department also noted progress in streamlining the Hart-Scott-Rodino Act (HSR) merger review process and pledged to increase the use of targeted, well-crafted consent decrees.
The HSR Act requires companies to notify the US Federal Trade Commission and the Department of Justice before completing certain large mergers or acquisitions.
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Impact on agriculture, labor, and drug sectors
Biden’s original executive order, signed in July 2021, aimed to strengthen enforcement of antitrust laws to address what the administration described as widespread abuses of market power. The order covered a wide range of sectors, and sought to limit monopolistic practices, reduce excessive fees for consumers, and improve working conditions.
It was particularly supported by Democratic Party figures and economic advisors aligned with Senator Elizabeth Warren, a key figure in consumer protection policy under former President Barack Obama.
Democratic Party critics argue that dismantling the order could result in weakened consumer protections and higher costs.
According to a June report by the Student Borrower Protection Center and the Consumer Federation of America, moves to roll back protections have already cost Americans an estimated $18 billion in fees and lost compensation due to alleged corporate misconduct.
Since taking office, Trump has repeatedly criticized the US Consumer Financial Protection Bureau, an agency championed by Biden-era officials, and has announced plans to shrink its workforce by 90%, signaling a continued shift away from the regulatory stance of his predecessor.
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