Trump says he’ll name Andrew Ferguson head of FTC

President-elect Donald Trump made another flurry of job announcements on Tuesday, selecting Andrew Ferguson as the next chair of the Federal Trade Commission

President-elect Donald Trump made another flurry of job announcements on Tuesday, selecting Andrew Ferguson as the next chair of the Federal Trade Commission, Kimberly Guilfoyle as the ambassador to Greece and Tom Barrack as the ambassador to Turkey.

Ferguson, who is already one of the FTC's five commissioners, will replace Lina Khan, who became a lightning rod for Wall Street and Silicon Valley by blocking billions of dollars worth of corporate acquisitions and suing Amazon and Meta while alleging anticompetitive behavior.

“Andrew has a proven record of standing up to Big Tech censorship, and protecting Freedom of Speech in our Great Country,” Trump wrote on Truth Social, adding, “Andrew will be the most America First, and pro-innovation FTC Chair in our Country’s History.”

Barrack, a wealthy financier, met Trump in the 1980s while helping negotiate Trump’s purchase of the renowned Plaza Hotel. He was charged with using his personal access to the former president to secretly promote the interests of the United Arab Emirates, but was acquitted of all counts at a federal trial in 2022.

Trump called him a “well-respected and experienced voice of reason.”

The ambassador positions must be approved by the U.S. Senate.

The replacement of Khan at the FTC likely means that the commission will operate with a lighter touch when it comes to antitrust enforcement. The new chair is expected to appoint new directors of the FTC’s antitrust and consumer protection divisions.

“These changes likely will make the FTC more favorable to business than it has been in recent years, though the extent to which is to be determined,” wrote Anthony DiResta, a consumer protection attorney at Holland & Knight, in a recent analysis.

Deals that were blocked by the Biden administration could find new life with Trump in command.

For example, the new leadership could be more open to a proposed merger between the country’s two biggest supermarket chains, Kroger and Albertsons, which forged a $24.6 billion deal to combine in 2022. Two judges halted the merger Tuesday night.

The FTC had filed a lawsuit in federal court earlier this year to block the merger, claiming the deal would eliminate competition, leading to higher prices and lower wages for workers. The two companies say a merger would help them lower prices and compete against bigger rivals like Walmart.

One of the judges said the FTC had shown it was likely to prevail in the administrative hearing.

Yet given the widespread public concern over high grocery prices, the Trump administration may not fully abandon the FTC’s efforts to block the deal, some experts have said.

And the FTC may continue to scrutinise Big Tech firms for any anticompetitive behavior. Many Republican politicians have accused firms such as Meta of censoring conservative views, and some officials in Trump’s orbit, most notably Vice President-elect JD Vance, have previously expressed support for Khan’s scrutiny of Big Tech firms.

Published - December 11, 2024 09:26 am IST