(CNN) President Joe Biden on Friday signed a sweeping executive order to promote competition in the US economy, parts of which target a key business strategy used by Silicon Valley companies. "The executive order I'm soon going to be signing commits the federal government to full and aggressive enforcement of our antitrust laws. Biden's executive order also continues a Trump administration historic push to allow states to import prescription drugs from Canada, where government regulation keeps down the cost of medications. Congressional Democrats have also been formulating efforts to reduce drug prices, which is one of Americans' chief health care complaints. The executive order includes 72 initiatives by more than a dozen federal agencies, according to the White House.

Source: CNN July 09, 2021 14:48 UTC