Biden Signs Executive Order Targeting ‘Lack of Competition’ in American Economy

President Joe Biden speaks in the East Room of the White House in Washington, D.C., on July 8, 2021. Evan Vucci/AP Photo

President Joe Biden on Friday signed an executive order aimed at increasing competition in the U.S. economy.

“For decades, corporate consolidation has been accelerating. In over 75 percent of U.S. industries, a smaller number of large companies now control more of the business than they did 20 years ago. This is true across healthcare, financial services, agriculture, and more,” the White House said in a fact sheet released before the signing ceremony.