On March 5, President Joe Biden launched the Strike Force on Unfair and Illegal Pricing (Strike Force) for the purpose of implementing policies in his July 9, 2021 Executive Order on Promoting Competition in the American Economy.[1] The Strike Force is co-chaired by the Department of Justice (DOJ) and Federal Trade Commission, with the goal to “strengthen interagency efforts to root out and stop illegal corporate behavior that hikes prices on American families through anti-competitive, unfair, deceptive, or fraudulent business practices.”[2] Some of the key sectors the Strike Force will focus on are housing, prescription drugs and healthcare, food and groceries, and financial services.

This latest Strike Force continues several efforts by the Biden administration that are focused on perceived antitrust violations. Previous efforts included:

• The White House Competition Council, established in 2021 “to work across agencies to provide a coordinated response to overconcentration, monopolization, and unfair competition in or directly affecting the American economy[.]”[3]
• The Procurement Collusion Strike Force, led by the Antitrust Division of the DOJ, that began in 2019 with the goal of combating antitrust crimes such as price fixing, bid rigging, and customer market allocation in government procurement and funding.[4]

Whether the new Strike Force can accomplish its goals remains to be seen. One critique put forth by a high-ranking officer from the U.S. Chamber of Commerce suggests, “[t]he strike force is an attempt to return to the failed policy of government price controls which President Nixon tried fifty years ago,” leading to shortages, high inflation, and economic stagnation.[5] Regardless of what potential obstacles stand in the way, Biden remains steadfast in his mission to attack high prices and other anticompetitive conduct.

[1] The White House, Executive Order on Promoting Competition in the American Economy (July 9, 2021), https://www.whitehouse.gov/briefing-room/presidential-actions/2021/07/09/executive-order-on-promoting-competition-in-the-american-economy/.

[2] The White House, FACT SHEET: President Biden Announces New Actions to Lower Costs for Americans by Fighting Corporate Rip-Offs (March 5, 2024), https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/05/fact-sheet-president-biden-announces-new-actions-to-lower-costs-for-americans-by-fighting-corporate-rip-offs/.

[3] The White House, Executive Order on Promoting Competition in the American Economy (July 9, 2021), https://www.whitehouse.gov/briefing-room/presidential-actions/2021/07/09/executive-order-on-promoting-competition-in-the-american-economy/.

[4] U.S. Department of Justice, Antitrust Division, Procurement Collusion Strike Force(last visited March 18, 2024), https://www.justice.gov/atr/procurement-collusion-strike-force.

[5] U.S. Chamber of Commerce, “White House Strike Force an Attempt to Return to Government Price Controls” (March 5, 2024), https://www.uschamber.com/finance/antitrust/u-s-chamber-white-house-strike-force-an-attempt-to-return-to-government-price-controls.

[View source.]