WASHINGTON — President Biden will sign a sweeping executive order on Friday aimed at spurring competition across the economy, encouraging federal agencies to take a wide range of actions, including more closely scrutinizing the tech industry, cracking down on high fees charged by sea shippers and allowing hearing aids to be sold over the counter.

The order reflects the administration’s growing embrace of warnings by some economists that declining competition is hobbling the economy’s vitality, raising prices and reducing choices for consumers in key areas, while dampening pay and restricting freedom to change jobs for workers.

But Mr. Biden may find challenges in addressing that competition decline across diverse sectors of the economy — including Silicon Valley, Wall Street, chain restaurants and large hospital networks — solely through executive action. Experts warn that in many areas, the president will need to work with Congress to change federal laws if he hopes to have more success than former President Donald J. Trump, who also issued competition-focused executive orders and saw limited results from them.

In interviews this week, senior administration officials acknowledged the limitations of executive authority, but said the order chose actions, like directing federal regulators to take steps to boost competition in several areas, that had the best chance of success in driving change across the economy.

Source: New York Times

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