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President Donald J. Trump has issued a new executive order titled "Promoting Competition in the American Economy," revoking Executive Order 14036, which was issued by the Biden-Harris administration on July 9, 2021. The revoked order aimed at increasing competition in the American economy, particularly in the technology and grocery sectors.
The new order does not explicitly mention any specific economic policies or regulations. However, it signals a policy pivot towards less governmental involvement in market competition regulation and a preference for more traditional, market-driven enforcement.
The revocation of Executive Order 14036 reflects a shift away from the stricter regulatory framework on mergers that the prior order had established. The new order is expected to ease merger oversight and regulatory hurdles, potentially allowing more mergers and acquisitions to proceed without extensive review or intervention by the Federal Trade Commission (FTC) and Department of Justice (DOJ).
The implications also include a reversal of policies encouraging regulatory actions addressing unfair competition in online markets, net neutrality, and data privacy protections introduced under EO 14036. The new order, however, maintains existing legal authorities, with the revocation explicitly stating it does not impair any statutory agency powers.
The costs for the publication of the new order will be borne by the Department of Justice. The implementation of the new order is subject to applicable law and the availability of appropriations. The new order does not create any rights or benefits enforceable at law or in equity, nor does it specify any penalties or consequences for non-compliance.
The new order includes general provisions for its implementation, but it does not provide details on how it aims to promote competition in the American economy. The new order does not affect the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
The revocation of Executive Order 14036 marks a significant step in the Trump administration's deregulatory agenda, aligning with other moves to reduce enforcement actions and regulatory barriers in sectors like healthcare and technology. The implications of this revocation will be closely watched as they unfold in the coming months.
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