Competition EO: Practical Implications Of Biden's Executive Order On Promoting Competition

On July 9, 2021, President Biden issued a comprehensive Executive Order on the promotion of competition in the U.S. economy, focused on specific industries and perceived antitrust challenges currently facing the nation.  The Executive Order calls on more than a dozen federal agencies to take action through 72 different initiatives.  The accompanying Fact Sheet, issued on the same day as the Executive Order, indicates that "President Biden is taking decisive action to reduce the trend of corporate consolidation, increase competition, and deliver concrete benefits to America's consumers, workers, farmers, and small businesses."

The language of the Executive Order, when coupled with the Fact Sheet, suggests sweeping and decisive change in antitrust policy and priorities at the agency level.  However, practically speaking, the Executive Order has limited immediate effect.  The executive's ability to unilaterally influence the policies and decisions of independent