Trump Revokes Biden's Executive Order on Economic Competition

Donald Trump has revoked Joe Biden's 2021 executive order aimed at promoting competition in the U.S. economy. Biden's order targeted anti-competitive practices in sectors such as agriculture, drugs, and labor. Trump's actions are estimated to cost Americans $18 billion due to increased fees and compensation losses.

In a dramatic policy reversal, former President Donald Trump has revoked a key executive order from 2021 issued by his predecessor Joe Biden, aimed at enhancing economic competition in the United States. This move signals Trump's intention to dismantle a major Democratic initiative targeting corporate misconduct, spanning industries from agriculture to pharmaceuticals.

Biden's original order was designed to address a wide array of corporate malpractices, including excessive airline fees and the soaring costs precipitated by colossal mergers. The Biden administration, many of whom have alliances with Senator Elizabeth Warren, championed these reforms to mitigate consumer exploitation.

The rollback of these consumer protections is projected to have severe financial repercussions, costing the American populace at least $18 billion in higher fees and reduced compensations, as detailed by recent analyses from the Student Borrower Protection Center and the Consumer Federation of America.

(With inputs from agencies.)