Federal Trade Commission Chairman Andrew N. Ferguson issued a statement Tuesday supporting President Trump's revocation of the Biden-Harris Administration's 2021 Executive Order on competition policy, signaling a fundamental shift in federal antitrust enforcement strategy.
Ferguson praised the withdrawal as marking "another break between the last Administration's failed policies and the Trump-Vance Administration's focus on protecting everyday Americans from anticompetitive practices through tailored action." The statement represents the new FTC leadership's clearest indication yet of its intention to pursue a markedly different approach to competition enforcement than its predecessors.
The Biden administration's Executive Order on Promoting Competition in the American Economy, issued in July 2021, had directed federal agencies to take a more aggressive stance on antitrust enforcement. The order called for increased scrutiny of mergers and acquisitions across multiple sectors and encouraged agencies to challenge what it termed anti-competitive practices that harm workers, farmers, and small businesses.
Ferguson criticized that approach as encouraging "top-down competition regulations" and establishing "a flawed philosophical underpinning for the Biden-Harris Administration's undue hostility toward mergers and acquisitions." His statement suggests the Trump administration will take a more hands-off approach to market regulation, allowing what Ferguson described as businesses operating "freely" without government "picking winners and losers."
The FTC chairman emphasized that American markets are "the most dynamic on Earth, responsible for enriching the entire world through technological innovations, lifting countless people out of poverty, and inspiring other countries to emulate our economic system." This framing positions the new administration's approach as one that prioritizes economic growth and innovation over regulatory intervention.
The philosophical shift carries significant implications for businesses across sectors. Under the Biden administration, the FTC and Department of Justice pursued aggressive enforcement actions against major technology companies, challenged numerous mergers, and took steps to revise merger guidelines to make deals harder to complete. The new approach suggests these enforcement priorities may be scaled back or redirected.
Ferguson's statement indicates the Trump-Vance FTC will focus on "enforcing the antitrust laws passed by Congress, for the benefit of all American consumers and workers." This language suggests a return to more traditional antitrust enforcement focused on consumer welfare standards rather than the broader competition concerns that characterized the Biden era.
The change in approach affects multiple stakeholders. For businesses, particularly those in technology, healthcare, and telecommunications sectors that faced heightened scrutiny under Biden administration policies, the shift may create a more permissive environment for mergers and business expansion. Companies that had delayed or abandoned merger plans due to regulatory uncertainty may now find a more receptive environment.
For consumers, the impact remains less clear. Ferguson promised the new approach would result in "lowering the cost of living, improving the quality of goods and services, fostering new innovations, and leading to ever-greater prosperity." Critics of more aggressive antitrust enforcement have argued that excessive regulation stifles innovation and economic growth, potentially harming consumers through reduced competition and higher prices.
However, supporters of the Biden administration's approach had argued that aggressive antitrust enforcement was necessary to prevent market concentration that could harm consumers through higher prices, reduced choice, and stifled innovation. The debate reflects competing economic philosophies about the proper role of government in regulating markets.
The timing of Ferguson's statement, coming as one of the new administration's early policy moves, suggests antitrust policy will be a priority area for the Trump administration. The statement references "President Trump's recent Executive Orders," indicating the competition policy revocation is part of a broader regulatory rollback effort.
For legal practitioners, the shift signals potential changes in how the FTC evaluates mergers and investigates alleged anticompetitive conduct. Law firms that counsel clients on antitrust matters will need to adjust their advice based on the new enforcement priorities, potentially seeing increased merger activity as regulatory barriers are reduced.
The changes also affect enforcement staff within the FTC and DOJ's Antitrust Division. Career attorneys who had been pursuing cases under Biden administration priorities may need to adapt to new enforcement guidelines and philosophical approaches to antitrust law.
Looking ahead, the business community will watch closely for concrete policy changes that translate Ferguson's philosophical statements into operational reality. These may include revised merger guidelines, changes to enforcement priorities, and different approaches to investigating alleged anticompetitive conduct.
The revocation of the Biden competition order represents one of the most visible early changes in federal economic policy under the new administration, with implications extending far beyond antitrust enforcement to broader questions about the federal government's role in regulating American business and markets.