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Over the course of his first six months in office, President Joe Biden has signaled a clear commitment to reinvigorate antitrust enforcement. On July 9, 2021, he took his most specific and comprehensive action on the subject yet, issuing an Executive Order on Promoting Competition in the American Economy (the Order).
1 A newly created White House Competition Council will oversee what is described as a “whole-of-government approach” that involves over a dozen federal agencies collaborating to carry out the Order’s 72 initiatives. The council, led by the director of the National Economic Council, will act as the nerve center, coordinating the implementation of the Order’s initiatives.
President Biden Signs Executive Order on Promoting Competition | Wilson Sonsini Goodrich & Rosati
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US & Mexico Trade & Competition Update July 2021
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Published: 05 July 2021
Washington, DC - Auto parts supplier Tupy agreed to restructure its acquisition of Teksid after the Department of Justice raised concerns that the merger would result in higher prices and reduced quality and timeliness of production for crucial components used in heavy-duty engines. As initially proposed, the deal would have combined the two most significant suppliers of engine blocks and cylinder heads for heavy-duty engines to customers in North America. These components are key inputs for engines used in large trucks, construction and agricultural equipment, as well as numerous other vehicles.
Under the original agreement, Tupy would have acquired Teksid’s entire iron automotive components business from Teksid’s parent company Stellantis N.V. The original acquisition included Teksid’s plant and other assets in Mexico used to manufacture iron blocks and heads for U.S. automotive customers. Following the restructuring, Tupy will acquire only
Justice Department Withdraws from Settlement with the National Association of Realtors Details Written by Imperial Valley News
Washington, DC - Thursday the Justice Department’s Antitrust Division filed a notice of withdrawal of consent to a proposed settlement with the National Association of Realtors (NAR). The department has also filed to voluntarily dismiss its complaint without prejudice. The department determined that the settlement will not adequately protect the department’s rights to investigate other conduct by NAR that could impact competition in the real estate market and may harm home sellers and home buyers. The department is taking this action to permit a broader investigation of NAR’s rules and conduct to proceed without restriction.