WASHINGTON, July 9 (Reuters) – President Joe Biden signed a sweeping executive order on Friday to promote more competition in the U.S. economy, urging agencies to crack down on anti-competitive practices in sectors from agriculture to drugs and labor.
If fully implemented, the effort will help lower Americans’ internet costs, allow for airline baggage fee refunds for delayed luggage and cut some prescription drug prices, among many other steps.
Biden said the order “commits the federal government to full and aggressive enforcement of our antitrust laws.”
“No more tolerance of abusive actions by monopolies. No more bad mergers that lead to massive layoffs, higher prices and fewer options for workers and consumers alike,” he said at a White House signing ceremony.
The president noted areas where many advocates feel that prices are too high, wages are tamped down or new businesses excluded from competition. “Let me be very clear,…