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President Donald Trump signed an executive order December 6 that the administration says will address risks from price fixing and anti-competitive behavior in the U.S. food supply chain. The White House announced that the order will establish food supply chain security task forces in the Justice Department and the Federal Trade Commission (FTC), reports Reuters.
"My Administration will act to determine whether anti-competitive behavior, especially by foreign-controlled companies, increases the cost of living for Americans and address any associated national security threat to food supply chains," Trump said in the order. “Anti-competitive behavior… threatens the stability and affordability of America’s food supply. In recent years certain companies in the American food supply chain have even settled civil suits accusing them of price fixing for tens of millions of dollars. Food supply sectors including meat processing, seed, fertilizer, and equipment have similar vulnerabilities to price fixing and other anti-competitive practices.”
The attorney general and the FTC chairman may bring enforcement actions and propose new regulatory approaches if they uncover anti-competitive behavior during the investigation, according to the order.
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