WASHINGTON — President Biden signed 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. “What we’ve seen over the past few decades is less competition, and more concentration that holds our economy back,” Mr. Biden said in the White House on Friday, shortly before signing the order, citing the agriculture, tech and pharmaceutical industries. “Rather than competing for consumers, they are consuming their competitors. Progressive groups celebrated it, while some business groups criticized it harshly. 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.

Source: New York Times July 09, 2021 09:01 UTC