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Trump Says Administration Is Looking Into Antitrust Violations By Amazon, Other Tech Giants

Summary:

President Donald Trump said his administration is looking into antitrust violations by Amazon, Facebook, and also Google parent Alphabet. Trump said he’€™s ‘€œnot looking to hurt’€ the tech giants, but is considering action, also saying that a ‘€œprevious administration’€ stopped enforcement against tech companies. The tech giants have been under the microscope in Washington recently on efforts to prevent foreign meddling in US elections.

Questions:

  • Will the Trump administration really take action against tech giants?

Article:

Jeff Bezos, Chairman and CEO of Amazon, speaks at the George W. Bush Presidential Center’s Forum on Leadership in Dallas, Texas, U.S., April 20, 2018.

President Donald Trump said his administration is looking into antitrust violations by Amazon, Facebook and Google parent Alphabet.

In a video interview with Axios‘ Jonathan Swan and Jim VandeHei that aired on Sunday, Trump said he’s “not looking to hurt” the U.S. tech giants but is considering action.

“We are looking at [antitrust] very seriously,” Trump said. “Look, that doesn’t mean we’re doing it, but we’re certainly looking and I think most people surmise that, I would imagine.”

Trump said others have also considered action against tech companies but a “previous administration” stopped that. “They were talking about this years ago. You know they were actually talking about this same subject — monopoly.”

Shares of the three tech companies were essentially flat in premarket trading on Monday.

Read More: https://www.cnbc.com/2018/11/05/trump-looking-into-antitrust-violations-against-amazon-other-tech-giants.html

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