President Donald Trump revoked on Wednesday a 2021 executive order on promoting competition in the U.S. economy issued by his predecessor Joe Biden, the White House said.

According to the text of the July 2021 ‘Promoting Competition in the American Economy’ order it aimed to “enforce the antitrust laws to combat the excessive concentration of industry, the abuses of market power, and the harmful effects of monopoly and monopsony”, focused on areas such as labor and healthcare markets.

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(Reporting by Costas Pitas)