Biden government to approve a project aimed at stimulating market competition

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A new measure proposed by the Biden administration could strengthen growth in sectors that are dominated by a small group of companies.  The plan is to control the power of large companies in these markets, reducing their commercial monopoly. 

According to a report by the Wall Street Journal (WSK), President Biden is expected to approve the project next week.

The aim of the move is to guide regulatory bodies, in the sectors of air and agriculture, to reconsider the existing rules-making process.  With this, it is hoped that competition will be stimulated and that the chances of challenging large companies increase. 

Also according to the WSJ, the American government aims to increase the ways regulators approach the centralization of business in the US, wanting to go beyond existing antitrust oversight, which focuses on stopping large companies.

Antitrust measures seek to increase competition and free market initiative and end monopolies which directly interfere in consumer choice.

Written by Marcos Ferreira, content assistant at Drummond Advisors