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Trump creates task forces to probe security risks from price fixing in American food supply chain
Story by Misty Severi
President Donald Trump signed an executive order Saturday that creates two new task forces to investigate price-fixing, foreign influence, and monopolistic practices that increase the cost of groceries for American families.
The two task forces will be under the Justice Department and the Federal Trade Commission and have the ability to bring enforcement actions, and propose new rules to stop anti-competitive behavior and restore competition.
"An affordable and secure food supply is vital to America's national and economic security," Trump wrote in the order. "However, anti-competitive behavior, especially when carried out by foreign-controlled corporations, threatens the stability and affordability of America's food supply."
Trump said there has already been evidence of collusion in the U.S. food supply chain, including cases where companies have settled lawsuits that accused them of price fixing for tens of millions of dollars.
"My Administration will act to determine whether anti-competitive behavior, especially by foreign-controlled companies, increases the cost of living for Americans and address any associated national security threat to food supply chains." Trump said.
The order directs the Justice Department and FTC to conduct their investigations and report their findings and proposed fixes to Congress in six months, and then again in a year.
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- uncle fred
D!
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Trump creates task forces to probe security risks from price fixing in American food supply chain
Story by Misty Severi
President Donald Trump signed an executive order Saturday that creates two new task forces to investigate price-fixing, foreign influence, and monopolistic practices that increase the cost of groceries for American families.
The two task forces will be under the Justice Department and the Federal Trade Commission and have the ability to bring enforcement actions, and propose new rules to stop anti-competitive behavior and restore competition.
"An affordable and secure food supply is vital to America's national and economic security," Trump wrote in the order. "However, anti-competitive behavior, especially when carried out by foreign-controlled corporations, threatens the stability and affordability of America's food supply."
Trump said there has already been evidence of collusion in the U.S. food supply chain, including cases where companies have settled lawsuits that accused them of price fixing for tens of millions of dollars.
"My Administration will act to determine whether anti-competitive behavior, especially by foreign-controlled companies, increases the cost of living for Americans and address any associated national security threat to food supply chains." Trump said.
The order directs the Justice Department and FTC to conduct their investigations and report their findings and proposed fixes to Congress in six months, and then again in a year.
<<
- uncle fred
D!
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