President Biden posted General executive order On Friday, it was proved to Americans that companies from multiple industries had become too large and too powerful, requiring federal intervention to bring competition back to the market to drive down prices.

The executive order to promote competition in the U.S. economy represents a slight shift in the Biden administration, which has recently focused its antitrust attention on large technology companies.Last month, Biden appointment Technology antitrust expert Lina Khan will serve as chairman of the Federal Trade Commission (FTC), which is responsible for enforcing antitrust laws along with the Department of Justice. The order resolved several issues with major technology companies and suspected anti-competitive behavior, and required stricter scrutiny of possible mergers and acquisitions by certain technology companies in order to remove competitors from the market.The new executive order also requires the FTC to formulate rules on the collection of user data. Many large technology companies rely on this data for income. Congress has also Keep failing It is regulated by law.

But it’s difficult to prove that Facebook and Google’s antitrust enforcement will do anything to consumers’ wallets, because these services are basically free-you basically pay for them with your data, and these companies use them for sales advertising. Wait for things. Amazon’s dominance of almost everything comes from its ability to keep prices lower than small businesses. People like to spend less money on things, and lower prices have traditionally been interpreted as beneficial to consumers. This is basically the purpose of the antitrust law: to protect consumers.

So now Biden is launching a comprehensive executive order that, among other things, explains how antitrust measures will save Americans money by promoting competition and lowering everything from airline fees to hearing aid prices.

“The core of American capitalism is a simple idea: open and fair competition,” Biden said shortly before signing the order. “This means that if your company wants to win your business, they must go out, they must improve their own standards; better prices and services; new ideas and products.”

He added: “But what we have seen in the past few decades is reduced competition and increased concentration, which hinders our economic development. We have seen it in big agriculture, big technology and big pharmaceuticals. The list goes on. They are not competing for consumers, they are consuming their competitors.”

The following is how this order can reduce costs for you if it is fully implemented.

Airline fees

Biden’s executive order instructed the Department of Transportation (DOT) to issue rules requiring airlines to refund fees when services are not provided or adequately provided. For example, if you paid a baggage fee and your baggage is delayed, the fee will be refunded. Or, if the airplane’s wifi or in-flight entertainment system fails to work, the airline will issue some form of refund for the ticket price.

The order also instructs the DOT to issue rules that airlines must clearly disclose all baggage, change and cancellation fees to their customers.

Internet bill

Americans have Long-term forced to pay No matter the few Internet service providers charge for these services, it’s usually because they Not much choice: Most people have one or two high-speed internet options available, which makes their operators little incentive to charge them less. And the prices charged by these providers may vary, and often include hidden fees.

The order will require the Federal Communications Commission (FCC) to prevent Internet service providers from make a deal With the landlord, the tenant can only choose one option of the Internet operator. In theory, this will promote competition and lower prices.

The Biden administration will also push the FCC to restore its “Broadband Nutrition Label“Plans. This will force vendors to explain to customers all the different plans available, all costs associated with them, all services that customers receive, and all the details of the final bill. These broadband nutrition labels were proposed in 2016 but were The FCC of the general government is cancelled.

Finally, Biden pleaded with the Federal Communications Commission to restore net neutrality.Net neutrality, this is Established By the Obama era FCC and abolition Established by the Trump FCC, operators will be prohibited from charging more for access to certain websites or services. It does this by classifying Internet services as “Title II” public operators, which will enable them to comply with public utility regulations.

The order ultimately sought to promote competition and transparency, and to end fees designed to lock in customers.

prescription

Biden’s new order instructs the Food and Drug Administration (FDA) to cooperate with state and tribal authorities from Canada, Usually the same drug Much cheaper Than in the United States. Ideally, this would force drug manufacturers to lower the prices they charge in the United States, or at least give Americans the option to pay less for imported drugs.

The order also instructs the Department of Health and Human Services (HHS) to support generic drugs, which will provide Americans with cheaper options than branded equivalents, and propose a plan to combat price fraud within 45 days.

Finally, it asked the FTC to ban “Pay for the delay“This is when pharmaceutical companies pay competitors to delay offering cheaper generic drugs after their exclusive patents are over.

Hearing aid

Biden is ordering HHS to issue rules that allow hearing aids to be sold over the counter, rather than forcing consumers to conduct expensive (and possibly unnecessary) consultations with medical professionals first-few health insurance companies Will even cover.

Maintenance, from tractor to cell phone

The order requires the FTC to expand the “right to repair” rules. Farmer with iPhone users Similar people complain that their equipment and equipment manufacturers make repairs impossible or difficult for anyone other than these manufacturers-this allows manufacturers to set their own repair prices without competition to keep prices down.

Basically any product from a non-Amazon store

The Biden administration asked the Federal Trade Commission to formulate rules to prevent the “Internet market” from using its dominant position to gain an advantage over small businesses that must sell goods through them. This may be one of the more comprehensive parts of the order. For example, Amazon can see which products from another company sell well, make its own version of those products, and then Show them more conspicuously. This also applies to Apple, as many of its developers complain about its App Store Is a monopoly And Apple will see what its users want (such as a music streaming service), make its own version, and push it to Apple device owners.