The purpose of this executive order is to revoke Executive Order 14036 issued by Former President Biden on July 9, 2021. The stated purpose of Executive Order 14036 was to promote competition in the American economy by addressing anti-competitive practices thought to harm consumers, workers and small businesses. It called for challenging past and proposed mergers in already regulated segments of the American economy and eliminating or limiting noncompete agreements. It created a White House competition council, which was composed of 15 members who were to coordinate efforts across federal agencies to curb anti-competitive practices.

The revocation of Executive Order 14036 and an Aug. 13, 2025 Department of Justice (DOJ) Statement on Revocation of Biden-Haris Executive Order on Competition (Statement) indicate a move to a more permissive environment that is pro-growth and market driven. Among other things, it may lead to a faster review process for mergers and acquisitions because the statement notes that the Anti-Trust Division has made steady progress in freeing up deal flow by streamlining the Hart-Scott-Rodino Act (HSR) review process by reinstating the practice of granting early termination in uncontroversial HSR reviews. On the other hand, the HSR provides that parties must not complete certain mergers or acquisitions or transfers of securities or assets, including grants of executive compensation, until they have made a detailed filing with the Federal Trade Commission (FTC) and DOJ and waited for those agencies to determine that the transaction will not adversely affect U.S. commerce under the antitrust laws. Moreover, new HSR rules promulgated under the Biden administration were finalized on Feb. 10, 2025, and they call for more information to be provided to the FTC and DOJ by parties to a proposed merger.