- July 10, 2021
- Posted by: Stratford Team
- Category: Business
WASHINGTON — President Biden will sign a sweeping executive order on Friday aimed at spurring competition across the economy, encouraging federal agencies to take a wide range of actions, including more closely scrutinizing the tech industry, cracking down on high fees charged by sea shippers and allowing hearing aids to be sold over the counter.
The order reflects the administration’s growing embrace of warnings by some economists that declining competition is hobbling the economy’s vitality, raising prices and reducing choices for consumers in key areas, while dampening pay and restricting workers’ freedom to change jobs.
But Mr. Biden may find challenges in addressing that competition decline across diverse sectors of the economy — including Silicon Valley, Wall Street, chain restaurants and large hospital networks — solely through executive action. Experts warn that in many areas, the president will need to work with Congress to change…