Trump Revokes Biden Order Targeting Corporate Consolidation

President Donald Trump revoked an executive order signed by former President Joe Biden that targeted consolidation in the agriculture, technology, and drug sectors, which the former administration argued had fed inflation by reducing competition.

Trump issued the revocation without providing additional context, among a series of executive actions he signed Wednesday.

Biden signed the order in July, 2021, amid heavy criticism that his post-pandemic recovery efforts had fed inflation. It directed more than a dozen federal agencies to begin 72 initiatives to strengthen competition, including with new regulations.

The Biden order included instructions to the Agriculture Department is directed to make it easier for cow, pig and poultry farmers to sue slaughterhouses if they’re underpaid or suffer retaliation, while the Federal Communications Commission and Federal Trade Commission were told to establish rules for internet providers and tech companies’ use of data.

To contact the reporter on this story:
Hadriana Lowenkron in Washington at hlowenkron@bloomberg.net

To contact the editors responsible for this story:
Mario Parker at mparker22@bloomberg.net

Justin Sink, Derek Wallbank

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