Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

White House competition adviser set to step down in coming months -source

Stock Markets Aug 02, 2022 06:15PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By David Shepardson

WASHINGTON (Reuters) -White House competition adviser Tim Wu, who advocated breaking up Big Tech companies and coined the term “net neutrality”, plans to step down and return to his previous post as a Columbia University professor, a source told Reuters.

In March 2021, President Joe Biden named Wu, Columbia's Julius Silver Professor of Law, Science and Technology, to help lead efforts to boost competition.

Wu plans to leave his White House post in the combing months but the precise timing is not known, the source added.

Wu has warned against an economy dominated by a few giant firms.

In July 2021, Biden signed a sweeping executive order to promote more competition in the U.S. economy, asking agencies to crack down on anti-competitive practices in sectors from agriculture to drugs and labor.

Wu was one of the main architects of the competition executive order and Biden's competition policy.

The order instructed antitrust agencies to focus on labor, healthcare, technology and agriculture. The White House has said the "lack of competition drives up prices for consumers and drives down wages for workers."

The Biden administration has taken steps to promote competition in many sectors, including the U.S. meat industry and among U.S. airlines.

Biden created a council chaired by the head of the White House National Economic Council Brian Deese, which includes a number of cabinet agencies including the Justice, Transportation, Commerce and Agriculture departments as well as chairs of the Federal Trade Commission, Securities and Exchange Commission and Federal Communications Commission.

Deese said last month that Biden believes that "driving structural change to promote competition across the economy" will "generate more innovation, greater productivity, more opportunity in the country while lowering prices for consumers and increasing wages for workers."

Deese said the administration will propose new rules in the coming months to provide airline travelers and broadband customers with more information to "comparison shop."

White House competition adviser set to step down in coming months -source
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email