Donald Trump revoked a 2021 executive order promoting competition in the US economy that was initiated by Joe Biden. This action unwinds a significant initiative aimed at curbing anti-competitive practices across various sectors. Trump's administration emphasized an America first antitrust approach, focusing on free markets rather than the regulations imposed by Biden. The justice department also outlined plans for streamlining the Hart-Scott-Rodino Act review process. Biden's original order sought to address corporate abuses and ensure greater competition, which had received popular support from the American public.
The justice department welcomed Trump's revocation of the order, stating it was pursuing an America first antitrust approach focused on free markets instead of the Biden administration's burdensome practices.
Biden signed a sweeping executive order in July 2021 to promote more competition in the US economy as part of a broad push to rein in corporate abuses.
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