Watch: Biden announces new initiatives to increase competition in economy during Competition Council

US President Joe Biden announced new actions by his administration to strengthen economic competition in a meeting with his Competition Council on 19 July. On Wednesday, the White House proposed new guidelines for corporate mergers, took steps to disclose the junk fees charged by landlords and launched a crackdown on price-gouging in the food industry. These will all be discussed as part of the president’s scheduled meeting with the Competition Council, a group of officials established under a 2021 executive order. The council has focused on creating more transparency for consumers and finding ways to limit the concentration of industries in ways that the Biden administration says lead to higher prices and hurt the ability of start-ups and small businesses to grow. Republican lawmakers and some business group critics counter that the Democratic president’s effort will lead to greater regulatory costs that leave the economy worse off. The Department of Justice and the Federal Trade Commission are proposing revised guidelines for how they evaluate mergers. Watch more on Independent TV: https://www.independent.co.uk/tv/editors-picks Click here to subscribe to The Independent: https://bit.ly/Subscribe-to-Independent About The Independent: Making Change Happen. The Independent is the world’s most free-thinking newsbrand, providing global news, commentary and analysis for the independently-minded. Connect with The Independent: Check out our full video catalog: https://www.youtube.com/c/theindependent/videos Videos, daily editorial and more: http://www.theindy.com Click here to get the best of The Independent daily: https://www.independent.co.uk/newsletters Like The Independent on Facebook: https://www.fb.com/TheIndependentOnline Follow The Independent on Twitter: https://twitter.com/Independent Follow The Independent on Instagram: https://www.instagram.com/the.independent Download the iOS & Android app: https://www.independent.co.uk/subscribe/app Help to support truly independent journalism. Every dollar you contribute will directly fund additional special reports and investigations from a free-thinking, award-winning newsroom you can trust - https://www.independent.co.uk/donations Subscribe to Independent Premium for exclusive content & live events: https://bit.ly/2MiOONB