Washington, D.C. (12/19/2023) – CCIA’s “Don’t Break What Works” campaign released the following statement after the Biden Administration released the final version of the 2023 Merger Guidelines.
The guidelines, which were developed jointly by the Department of Justice (DOJ) and Federal Trade Commission (FTC), lower the bar for what mergers would be considered illegal and take yet another step away from the long-standing “consumer welfare standard,” which prioritizes consumers’ best interests and has remained the basis of federal antitrust enforcement and policy for decades.
“This appears to be a thinly-veiled effort to target certain businesses in certain sectors, which may seem immediately politically expedient but comes with real risks to the American economy and consumers,” said Don’t Break What Works spokeswoman Chandler Smith Costello. “Concerningly, the guidelines attempt to import European-style regulations on American companies at a time when competitors abroad are actively seeking to hamper American businesses’ ability to compete on a global stage. We encourage the leaders of the DOJ and FTC to focus more on the risks to consumers, the economy, and American innovation that would result from this flawed approach.”
Late last week, a bipartisan group of lawmakers urged the Biden Administration to take a stronger stand for American businesses on the global stage and push back on international efforts to weaken U.S. companies’ ability to compete abroad.
The Don’t Break What Works campaign is powered by the Computer and Communications Industry Association (CCIA). Learn more here.