Revocation of Executive Order on Competition

This executive order revokes Executive Order 14036, the Biden administration's 2021 order on promoting competition in the American economy. The revocation eliminates the prior order's directives to federal agencies on antitrust enforcement, labor market competition, and consumer protection measures, without replacing them with new policy instructions.

Federal Register Open PDF 90 FR 40227

Impact dates

Jul 9, 2021
Revoke Executive Order 14036 of July 9, 2021

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Technology & software Pharma Agriculture Banking & finance Other industrial

Mechanisms

Ban / prohibition

Role pressure

MixedDomestic producer — Large incumbent firms may face reduced antitrust scrutiny; smaller competitors lose potential protections from EO 14036's pro-competition mandates
UncertainDownstream manufacturer — Loss of EO 14036 directives on supply chain competition and right-to-repair creates uncertainty about future regulatory support

Geographies

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

MMM3MGOOGLAlphabetAAPLAppleADMArcher Daniels MidlandBACBank of AmericaBLKBlackRockBGBungeCATCaterpillarCTVACortevaLLYEli LillyFCXFreeport-McMoRanGEVGE VernovaGSGoldman SachsHONHoneywellHSBCHSBCQQQInvesco QQQ TrustJNJJohnson & JohnsonJPMJPMorgan ChaseMRKMerckMETAMeta PlatformsMSFTMicrosoftNVSNovartisNVDANVIDIAORCLOracle

Confidence: medium · Policy alerts

Key directives

Revoke Executive Order 14036 of July 9, 2021

Who is ordered

Attorney General · Department of Justice

Timeline

Immediate

Revocation of EO 14036 takes effect
DOJ bears publication costs

Near term (90d)

Agencies may halt or reverse competition-related rulemakings initiated under EO 14036
FTC and DOJ Antitrust Division may shift enforcement priorities

Long term

Potential structural shift in federal antitrust and competition policy
Possible rescission of agency guidance, reports, and regulations issued pursuant to revoked order

Risks & tensions

Uncertainty about status of rules and guidance promulgated under EO 14036—order is silent on whether derivative actions survive
No replacement policy framework provided, creating enforcement vacuum
Potential litigation over whether agency actions taken under revoked order remain valid