FTC pick adds force to Biden's antitrust agenda

Significance

Khan's unexpected appointment came five days after the House of Representatives introduced antitrust legislation that could break apart Amazon's control of its e-commerce marketplace, prevent Facebook and Google from buying smaller rivals, and make Apple change how it runs its app store.

Impacts

• Biden does not favour breaking up tech platforms, despite such calls from some Progressive Democrats.
• Investigation -- or the threat of it -- could have a chilling effect on companies, including M&A activity.
• New US antitrust legislation affecting big tech would likely influence similar legislation in other countries.