The action will affect a wide range of industries – in particular, thetech industry.
Biden’s"Promoting Competition in the American Economy" executive orderconsists of 72 directives for federal agencies.
“No more tolerance for abusive actions by monopolies,” Biden said in Friday’s press conference.
“Capitalism without competition isn’t capitalism.
It’s exploitation.”
The FTC can file an amended complaint.
That’s been an issue for Facebook and Google, among others.
Federal lawmakers have also singled out web retailers that run a marketplace where they sell goods alongside other businesses.
Facebook and Amazon didn’t immediately respond to requests for comment.
TheFCC is currently deadlockedwith two Democrats and two Republicans.
“But for the agency to achieve those goals, we need a full slate of FCC Commissioners.
Biden must appoint a fifth FCC Commissioner immediately.”
CNET’s Queenie Wong and Laura Hautala contributed to this report.
