Trump's VP Pick Backs Big Tech Antitrust Crackdown
J.D. Vance, Trump's VP pick, supports FTC Chair Lina Khan's approach to antitrust enforcement. Vance is part of a group of Republican lawmakers called "Khanservatives" who believe antitrust laws should serve a broader purpose. Scrutiny of Big Tech is not new for Trump, as investigations and lawsuits were initiated during his presidency.
This endorsement suggests that a potential second Trump administration would continue to prioritise cracking down on Big Tech companies.
Vance, a Republican senator from Ohio, joined the presidential ticket at the Republican National Convention in Milwaukee, solidifying his position as a key figure in Trump's campaign. He is part of a group of Republican lawmakers, including Senator Josh Hawley and Representative Matt Gaetz, who have been dubbed "Khanservatives" due to their agreement with Chair Khan's belief that antitrust laws should serve a broader purpose beyond consumer prices.
During an event in Washington in February, Vance praised Chair Khan's understanding of competition in the marketplace, stating, "She recognised there has to be a broader understanding of how we think about competition in the marketplace."
This endorsement highlights a tension within the conservative movement, as some conservatives advocate for smaller regulatory agencies while also supporting the use of antitrust laws to challenge powerful corporations, particularly in the realm of Big Tech. Many hope to address concerns of perceived censorship of conservative voices online.
Joseph Coniglio, director of antitrust policy at the Information Technology and Innovation Foundation, noted that Vance's selection as vice president sends a clear signal of support for antitrust enforcement. However, it is worth mentioning that Coniglio's think tank receives funding from major technology companies.
It is important to note that scrutiny of Big Tech is not new for Trump. During his presidency, both the FTC and the Department of Justice initiated investigations into Meta, Amazon, Apple, and Google for alleged antitrust violations. Eventually, all four companies were sued, though they have denied any wrongdoing.
Vance, a Yale-educated lawyer and venture capitalist, has previously worked at the corporate law firm Sidley Austin and has assisted Trump in fundraising efforts in Silicon Valley. He has also called for the breakup of major tech companies, particularly Google, citing concerns about their monopolistic control of information.
While the focus of a potential second Trump administration remains uncertain, the conservative Heritage Foundation's Project 2025 policy platform discusses ways in which conservative causes can be championed through antitrust enforcement. However, the platform also questions the continued existence of the FTC.
President Joe Biden's antitrust enforcers have faced criticism from business groups for expanding the scope of antitrust considerations beyond traditional price-related concerns to include labor and other issues. The U.S. Chamber of Commerce has even filed a lawsuit to block the FTC's ban on employers requiring workers to sign agreements not to join rival companies or start competing businesses.
During the February event hosted by Silicon Valley startup incubator Y Combinator, Vance emphasised that his view of antitrust extends beyond supporting small firms and also encompasses the well-being of workers and the quality of consumer goods. He disagreed with some conservatives who believe that corporate behavior cannot be "tyrannical," stating, "I want people to live good lives in our country. I don't really care if the entity that is most threatening to that vision is a private entity or a public entity."
J.D. Vance, Trump's VP pick, supports FTC Chair Lina Khan's approach to antitrust enforcement
Vance is part of a group of Republican lawmakers called "Khanservatives" who believe antitrust laws should serve a broader purpose
Scrutiny of Big Tech is not new for Trump, as investigations and lawsuits were initiated during his presidency
Source: REUTERS