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Amazon and Facebook are unnamed targets of Biden’s executive order
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Fri, July 9, 2021, 4:46 PM
Big Tech is once again in Washington’s crosshairs. On Friday, President Biden called on the Federal Trade Commission and Department of Justice to enforce existing rules and establish new ones that could interfere with the market domination of America’s biggest tech firms.
The calls on the FTC to establish stricter rules over mergers, making it harder for larger tech companies to swallow up their smaller competitors — just like Facebook has with Instagram and WhatsApp. It also makes it harder for companies to use their customers’ data to make competing products — just like Amazon has been accused of doing with its third-party sellers.
The order also calls on the FTC and DOJ to use flexibility in existing antitrust laws to retroactively unwind “bad mergers” completed under prior administrations.