Staff Reports
The Federal Trade Commission (FTC) and the Department of Justice’s (DOJ) antitrust unit have operated with a fervor that would make even the most brazen monopolist break a sweat over the last four years. Leading this charge has been Lina Khan, the FTC Chairwoman who seems to take her cues from a progressive playbook rather than the Constitution. Alarmingly supported by the Biden administration, Khan’s tenure has been marked by an aggressive regulatory environment that has left business leaders trying to navigate through a minefield of bureaucratic hurdles.
With President-elect Donald Trump’s return to the Oval Office on the horizon, business moguls who have surrendered to years of heavy-handed oversight are now holding their breath to see how far Trump and his recruits will peel back the layers of federal regulation. In light of Trump’s mixed signals regarding his administration’s regulatory approach, the business community is left guessing whether it will experience a seismic shift or be stuck with business as usual.
So far, Trump has made a few intriguing nominations to key antitrust positions. Andrew Ferguson is stepping in as the FTC chair, with Mark Meador taking the seat Ferguson vacates, and Gail Slater heading up the DOJ’s antitrust division. Ferguson comes with a pedigree that would impress any conservative: an attorney who has worked closely with Senate stalwarts like Mitch McConnell and Chuck Grassley and served as a clerk under Justice Clarence Thomas. Armed with a traditional take on antitrust regulation, Ferguson has already characterized Khan’s tenure as “anti-business” with a clear plan to return to a more favorable regulatory framework for American enterprises.
The trio of Trump picks could provide some much-needed relief for business leaders who are understandably fed up with the prevailing climate of fear fostered during Khan’s reign of terror. In stark contrast to Khan’s fire-and-brimstone approach, Ferguson’s ascent might signal a return to regulatory sanity. Business experts are hopeful that under Ferguson’s guidance, the FTC’s anti-competitive juggernaut can be slowed down, particularly in light of the exorbitant costs and time delays imposed by cumbersome filing requirements.
However, there may not be a complete overhaul. Ferguson’s own history indicates that while he champions a more rationalized approach, the FTC will still have a watchdog role. His commitment to ensuring that mergers and acquisitions do not spiral out of control suggests that he will lean towards a cautious approach—making sure that the market remains competitive, but without Khan’s heavy-handed tactics. Meador’s appointment further complicates the narrative, given his affiliations with a populist wing of the Republican Party that sees big entities with a skeptical eye, increasing the potential for a muddled regulatory landscape.
What will antitrust enforcement look like under Trump 2.0? https://t.co/SwWGaBik67
— Washington Examiner (@dcexaminer) January 3, 2025
Buzzing discussions around free speech and the looming threat of Big Tech censorship are likely to dominate the upcoming regulatory landscape. Ferguson has openly declared the need for the FTC to investigate potential collusion that curtails free speech online. This should resonate well with Trump, who has remained vocal against platforms that stifle conservative voices—a cause that strikes a chord with many Americans who feel they’ve been silenced in the digital public square. With plans to address the censorship of ideas by massive platforms, Trump’s administration could usher in fresh air after years of tech giants operating as if they were above the law.
While business titans and average Americans alike may welcome a thawing of the regulatory ice, the future remains dotted with uncertainties. Several legal proceedings involving tech giants continue to linger, and incoming officials must tread carefully. Ferguson, Meador, and Slater will need to balance a more lenient regulatory atmosphere with accountability—especially for those entities that have seemingly distorted competition and free speech for their own gain. The sooner they tackle these issues, the sooner America can move toward a more equitable platform for both consumers and businesses without crossing into the realm of heavy-handedness once swaggered by Khan.
