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EO 14364Executive OrderTrump 47 · R

Executive Order 14364

Addressing Security Risks From Price Fixing and Anti-Competitive Behavior in the Food Supply Chain

This executive order directs the Attorney General and FTC Chairman to establish separate Food Supply Chain Security Task Forces to investigate anti-competitive behavior and foreign control in food-related industries including meat processing, seed, fertilizer, and equipment. The task forces must brief Congress at 180 and 365 days on their progress and are empowered to bring enforcement actions, propose new regulations, and commence criminal proceedings for collusion.

Federal Register Open PDF 90 FR 57349

Impact dates

  1. Second joint congressional briefing on task force progress

Market exposure

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

Sectors

AgricultureChemicalsTechnology & software

Mechanisms

LicensingProcurement

Role pressure

  • MixedDomestic producer — Reduced anti-competitive behavior may lower input costs, but increased enforcement scrutiny raises compliance costs and uncertainty
  • AdverseImporter — Foreign-controlled corporations face targeted investigation and potential enforcement for anti-competitive behavior and national security concerns
  • ProtectiveDownstream manufacturer — Investigation of price fixing in meat processing, seed, fertilizer, and equipment may reduce input costs if anti-competitive behavior is remedied

Geographies

USOTHER

Exposure dates

  • — Second joint congressional briefing on task force progress

Illustrative public companies

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

MMM3MALBAlbemarleGOOGLAlphabetAAPLAppleADMArcher Daniels MidlandBASFYBASFBGBungeCATCaterpillarCTVACortevaDOWDowDDDuPontQQQInvesco QQQ TrustLYBLyondellBasellMETAMeta PlatformsMSFTMicrosoftNVDANVIDIAORCLOracleSPYSPDR S&P 500 ETFSQMSQMTSNTyson Foods

Confidence: medium · Policy alerts

Key directives

  • Attorney General shall establish Food Supply Chain Security Task Force within DOJ
  • FTC Chairman shall establish Food Supply Chain Security Task Force within FTC
  • Task forces shall investigate anti-competitive behavior in food supply chains
  • Task forces shall determine whether foreign control of food-related industries increases costs or creates security threats
  • Attorney General and FTC Chairman shall remedy anti-competitive behavior through enforcement actions and new regulatory approaches
  • Attorney General shall commence criminal proceedings for evidence of criminal collusion, including grand jury investigations
  • Task forces shall jointly brief Congress at 180 days and 365 days

Who is ordered

Timeline

Immediate

  • Establishment of DOJ and FTC Food Supply Chain Security Task Forces

Near term (90d)

  • Task forces begin investigations into anti-competitive behavior in food supply chains
  • Enforcement actions and regulatory proposals may commence as investigations uncover violations

Long term

  • 180-day congressional briefing on progress (by June 4, 2026)
  • 365-day congressional briefing on progress (by December 6, 2026)
  • Potential structural changes to competition in food-related industries through enforcement and new regulations

Risks & tensions

  • Foreign investment screening in agriculture may conflict with trade obligations and diplomatic relationships
  • Overlap between DOJ/FTC jurisdictions could create coordination challenges or duplicative investigations
  • Mandatory congressional briefings exclude ongoing investigations, limiting transparency of actual enforcement progress
  • Vague scope of 'food-related industries' and 'national or economic security threat' creates definitional uncertainty for investigators
Executive Order 14364: Addressing Security Risks From Price Fixing and Anti-Competitive Behavior in the Food Supply Chain · Executive Orders