Antitrust Laws: Promoting Competition and Free Markets
Critically important but commonly misunderstood, antitrust laws are meant to promote competition and protect consumers. Here’s everything you need to know.
America's antitrust laws promote competition and benefit consumers.
Antitrust laws ensure competition in a free and open market economy, which is the foundation of any vibrant economy. And healthy competition among sellers in an open marketplace gives consumers the benefits of lower prices, higher quality products and services, more choices, and greater innovation.
The core of U.S. antitrust law was created by three pieces of legislation: the Sherman Antitrust Act, the Federal Trade Commission Act, and the Clayton Antitrust Act. These laws have evolved along with the market, vigilantly guarding against anti-competitive harm that arises from abuse of dominance, bid rigging, price fixing, and customer allocation.
The Prompt: Antitrust Speeches
In light of the increasing focus on "America First antitrust" in recent speeches, we sought to gather insights from our The Prompt contributors on their interpretations and key takeaways.
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- The Chamber is proposing simple, yet effective, changes to the FTC's recusal process to ensure due process and transparency.Petition would require commissioners to seek written legal guidance of agency ethics officials and disclose in writing the rationale for any decisions to decline to follow the recommendations of ethics officials.Comments in response to TTB’s Advance Notice of Proposed Rulemaking regarding competition in the beer, wine, and spirits industry filed on June 26, 2023.Comments in response to the Federal Trade Commission; notice of proposed rulemaking to amend the Negative Option Rule filed on June 23, 2023.The Chamber's comments on best practices of cloud computing providers filed on June 20, 2023.This Statement for the Record was sent to the Members of the Senate Committee on the Judiciary, on the hearing "Competition in the Digital Advertising Ecosystem."The U.S. Chamber sent a letter to calling upon the White House to exert greater oversight of the FTC and DOJ over their assistance with foreign regulations that undermine the interests of U.S. companies abroad.Coalition comments signed by more than 280 organizations representing 45 states on the FTC's proposed rule to ban noncompete clauses.
