Congress weighs Trump's approach to antitrust enforcement
Under the incoming Trump administration, antitrust enforcement might shift to one agency in a move some believe will streamline cases and improve efficiency.
President-elect Donald Trump likely won't slow antitrust scrutiny of big tech companies. However, there could be significant changes between Trump's approach to antitrust enforcement compared with President Joe Biden's.
Sen. Amy Klobuchar (D-Minn.), chair of the Senate Subcommittee on Competition Policy, Antitrust and Consumer Rights, said the subject of U.S. antitrust enforcement transcends political party, and it's "important that we keep focused on getting things done when it comes to consolidation and monopolies." Klobuchar spoke during a committee hearing this week about continuing bipartisan approaches to U.S. antitrust enforcement.
Klobuchar highlighted areas of continuity between Trump and Biden's approaches to antitrust, particularly for big tech companies. She pointed out how the previous Trump administration brought cases against Google and Meta, which the Biden administration continued.
"The Biden administration didn't simply toss cases brought by Republicans," she said. "They strengthened them, they won them, and we're hopeful the incoming Trump administration will do the same thing."
In Congress, Klobuchar noted how two bipartisan antitrust reform bills to increase merger filing fees and limit transfer and consolidation of state antitrust cases passed during the Biden administration.
Still, Sen. Mike Lee (R-Utah), ranking member of the antitrust committee, indicated that he expects some changes to antitrust enforcement under the incoming Trump administration.
"As the Biden administration comes to an end, we're on the cusp of turning the page on the 'big is bad' mantra and rhetoric," he said during the hearing.
Changes to U.S. antitrust enforcement under Trump
Lee acknowledged bipartisan efforts to address "significant harms posed by monopolistic practices in the concentrated power within big tech companies."
"These trillion-dollar companies can, if left unrestrained in that regard, not only stifle competition but suppress public discourse through ideologically motivated censorship," he said.
However, Lee advocated for streamlining antitrust enforcement by consolidating antitrust authority under the U.S. Department of Justice. Lee introduced the One Agency Act in 2021, which would transfer antitrust enforcement authority from the Federal Trade Commission to the DOJ.
By establishing a single antitrust agency, Lee said, "we'd harmonize enforcement efforts" and create a level playing field for businesses. Trump has already announced plans to create the Department of Government Efficiency, which aims to cut federal agencies and reduce government inefficiencies.
"In the coming year, with a new Congress and the start of President Trump's second term, we have a chance to champion robust and principled enforcement efforts and to advance essential legislative reforms," Lee said.
Innovators have expressed widespread frustration with the Biden administration's hostility toward startup acquisitions.
Roger AlfordLaw professor, University of Notre Dame Law School
Aside from a potential shift in antitrust enforcement authority, Trump will likely reverse the general skepticism toward mergers and acquisitions, said Roger Alford, a law professor at the University of Notre Dame Law School and a witness during the hearing.
However, Alford agreed that both Trump and Vice President-elect J.D. Vance share strong skepticism toward big tech companies. Indeed, in recent appointments to lead antitrust enforcement agencies, Trump said in a post on Truth Social that big tech has been allowed to "run wild for years, stifling competition."
Alford said he expects the Trump administration will balance hostility toward big tech with "sympathy toward innovators and startups." He added that the last year has marked the lowest exit activity for startups in a decade, noting government hostility toward mergers and acquisitions as part of what startups perceive as the problem.
"Innovators have expressed widespread frustration with the Biden administration's hostility toward startup acquisitions," he said during the hearing. "I think this may be the point of largest difference between the two administrations."
Makenzie Holland is a senior news writer covering big tech and federal regulation. Prior to joining TechTarget Editorial, she was a general assignment reporter for the Wilmington StarNews and a crime and education reporter at the Wabash Plain Dealer.
