- July 12, 2021
- Posted by: Stratford Team
- Category: Business
The 72 initiatives in the executive order President Joe Biden signed Friday – an effort to ensure that capitalism in the U.S. is based on ‘open and fair competition,’ he said – did not specifically name any companies.
Its impact, however, has the potential to be felt greatly by many who do business in New Jersey.
The executive order lists a number of industry sectors that Biden feels need to be changed to ensure more competition. Biden seemingly has set his sights on big tech, including Amazon, which is the state’s largest employer. And also health care, long a huge sector in the state.
Tech appears to top the list. Biden is encouraging the Federal Trade Commission to create new rules on data collection and user surveillance practices. Biden also said he wants to reduce broadband providers’ market control by restoring net neutrality rules that were dropped during President Donald Trump’s administration.