Biden signed an executive order to promote competition in various industries in the United States

　　US President Biden signed an executive order on July 9 local time to promote competition in various industries in the United States. This bill provides guidance and restrictive measures for anti-competitive practices in science and technology, medical care and other fields, and at the same time aims to increase workers’ income and provide protection for consumers.

　　This comprehensive order issued 72 actions and suggestions for the labor market, agricultural market, health care market (including prescription drugs, hospital merger and insurance), transportation, internet, bank and consumer credit system, and scientific and technological innovation market. In a statement issued on the same day, the White House said that due to the lack of competition in the market, rising prices and falling wages, it is estimated that the annual loss of middle-class families in the United States is about 5,000 US dollars. The signing of this order will provide economic support to American families in need, increase the income of American workers, and promote innovation and economic growth in the United States.

　　This executive order includes calling on major antitrust agencies — — The Ministry of Justice (DOJ) and the Federal Trade Commission (FTC) vigorously enforce the anti-monopoly law, encourage them to take legal measures to limit the bad monopoly behaviors neglected by the former government, and prohibit unnecessary restrictions on professional licenses. The government will also seek to strengthen anti-monopoly guidance to prevent employers from cooperating by sharing salary information with each other to depress employees’ wages or reduce benefits. The executive order also puts forward several specific measures to protect consumers’ rights and interests in terms of medical care, Internet and transportation, including requiring the Ministry of Communications to formulate and issue clear rules to refund fees when airlines delay their luggage or fail to provide corresponding services according to their advertisements. (CCTV reporter Xu Wei Xu Wei)