President Biden's Executive Order On Competition Could Mean Broad Changes Across A Range Of Industries

On Friday, July 9, 2021, President Biden issued a sweeping Executive Order¹ that could have far-reaching implications for businesses across a broad spectrum of industries. The Executive Order takes a government-wide approach and includes 72 initiatives by over a dozen federal agencies, with the stated aim of addressing competition issues across the nation's economy to protect consumers and workers and bolster innovation.²

Significantly, the Executive Order does not immediately put any specific policies into effect or establish any requirements or prohibitions for businesses or other nongovernmental entities. Rather, the Executive Order directs and encourages federal regulators to consider policy initiatives, conduct a series of reviews, and craft new rules to implement the overarching policy goals of the Administration – a process that could take many months, if not years, to unfold. Nevertheless, the ramifications are likely to be significant for businesses of all