Donald Trump has signed an order to establish task forces to tackle potential “security risks” in the US from alleged price fixing and anti-competitive conduct in the food sector.
The working groups will be created within the Department of Justice (DoJ) and the Federal Trade Commission (FTC).
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“My administration will act to determine whether anti-competitive behaviour, 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 dated 6 December.
Last month, the US DoJ opened an inquiry into alleged price fixing by meatpacking companies at Trump’s direction. At the time, four companies were identified – JBS, Cargill, Tyson Foods and National Beef. They control about 85% of US beef processing, compared to 36% in 1980, the White House said.
The new order said anti-competitive conduct, “especially when carried out by foreign-controlled corporations, threatens the stability and affordability of America’s food supply”.
The units will review whether the ownership or control of food-related sectors by foreign entities is “increasing the cost of food products” in the US or creating a “national or economic security threat” for Americans.
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By GlobalData“The Attorney General and the Chairman of the Federal Trade Commission shall take such actions as are necessary to remedy any anti-competitive behaviour that their respective investigations uncover, including bringing enforcement actions and proposing new regulatory approaches,” the statement read.
For example, if the DoJ task force identifies evidence of criminal collusion, the Attorney General will be instructed to initiate criminal proceedings.
The task forces must deliver a joint briefing to Speaker of the House Mike Johnson, the Senate Majority Leader John Thune and the chairs of the relevant congressional committees, providing a summary of their work “within 180 days” of the date of the order.
