Reflection on the Regulation of Giants: What Should We Expect with Antitrus and Trump 2.0?

As Trump kicks off a second term, a key question is asked: will this administration pursue meaningful antitrust enforcement, or will regulatory actions be shaped more so by GOP political motives than by enforcing a fair economy? In the United States, antitrust law governs the conduct of businesses in order to promote economic competitiveness while preventing unjust monopolies. The Department of Justice (DOJ) and the Federal Trade Commission (FTC) have a dual responsibility for enforcing antitrust laws, with the DOJ’s Antitrust Division focusing on criminal and civil enforcement and the FTC on investigative litigation. President Donald Trump has previously had a mixed record on Big Tech regulation, at times criticizing major technology companies for alleged bias while also overseeing limited antitrust actions against corps like Google and Meta. 

President Trump’s first term exemplified a sharp contrast between his campaigning rhetoric and actual antitrust policies pursued by his administration. While he frequently criticized Big Tech for supposed censorship on social media platforms, President Trump’s official enforcements were objectively selective. In 2020, the DOJ made history by pursuing an antitrust lawsuit against Google. This suit marked a significant challenge to Big Tech by the Executive Branch, but scrutiny against other industry powerhouses remained largely rhetorical going forward. This selective enforcement is a perfect example of the tension between President Trump’s history of pro-business deregulation and his own personal political grievances against Silicon Valley. In contrast, former President Joe Biden’s administration pursued an aggressive

antitrust agenda, with a specific shift towards stricter enforcement in this area of federal law. Under Jonathan Kanter at the Antitrust Division and Lina Khan at the FTC, the federal government took an assertive stance against corporate consolidation, particularly against Big Tech. Major lawsuits sought to challenge monopolistic practices, while the FTC attempted to block high-profile mergers. Beyond litigation, the administration also supported legislative efforts to strengthen already existing antitrust laws and empower government regulators to pursue action. This administration contrasted sharply with the preceding, which was more accommodating toward mergers and the corporate sector. 

As President Trump’s second term begins, significant shifts in antitrust enforcement and policy direction could emerge. So far, the only changes to the DOJ have still primarily been the changing of the guard. The most significant change being a number of those who were part of DOJ investigative teams looking into the president’s alleged past criminal activities have found themselves ousted from the department. While these shifts could reflect President Trump’s broader efforts to consolidate control over federal agencies, they don’t yet indicate a clear direction for antitrust policy. 

In terms of regulation, Trump’s stance on artificial intelligence (AI) suggests a more business friendly-approach to federal law. Executive Order (EO) 14179, “Removing Barriers to American Leadership in Artificial Intelligence,” calls for the development of an action plan for AI. Just last year, the DOJ and FTC released a joint statement on AI competition issues, outlining their enforcement priorities for technological development. It remains to be seen how President Trump’s administration will have their antitrust enforcers approach the regulation of

AI. However, it is important to note that Trump’s EO explicitly framed AI development as a matter of national competitiveness and economic strength. In comparison, the Biden administration framed AI as a development with significant risks such as bias and national security vulnerabilities. Given the implications of the EO, it is likely that private technology development will face fewer regulatory challenges during President Trump’s leadership. 

A new, and seemingly rogue, element to this Trumpian era is the addition of businessman Elon Musk as a special government employee. Through a presidential executive order, Musk has been given authority over the federal workforce, with the goal of cutting costs in the national government. Despite this new role in the Executive Branch, Musk remains the CEO of SpaceX, which allows him to directly profit from federal contracts (an estimated $3.8 billion was obtained by the company in 2024 alone). In response to the fears of potential conflicts of interest, Musk rejected any suggestion of him abusing his position. Doubts remain as Musk continues to shape government policy while maintaining business ties with the Defense Department, raising questions about where his true priorities lie within the Trump administration. 

As the second Trump administration takes shape, the trajectory of antitrust enforcement remains uncertain. While past records suggest a more selective approach, driven as much by political narratives as by economic principles, his new administration has yet to establish a clear regulatory framework. The shift in leadership at the DOJ and FTC, in combination with Trump's pro-business stance on AI and the controversial role of figures such as Elon Musk, signals a potential rollback of aggressive antitrust actions. However, with growing scrutiny over the evolving landscape of technology, the administration’s approach will have lasting implications for economic equity. Whether Trump’s antitrust policy will reflect genuine market concerns or merely serve political fodder remains an open question—one that will shape the balance of power in the American economy for years to come. 

References:

“Executive Order 14179—Removing Barriers to American Leadership in Artificial Intelligence | the American Presidency Project.” Ucsb.edu, 2025, 

www.presidency.ucsb.edu/documents/executive-order-14179-removing-barriers-american -leadership-artificial-intelligence. 

Gross, Terry. “How Did Elon Musk Become so Powerful in the Trump Administration?” NPR, 12 Feb. 2025, 

www.npr.org/2025/02/12/g-s1-48392/how-did-elon-musk-became-so-powerful-in-the-tru mp-administration. Accessed 14 Feb. 2025. 

Sykes, Jay. Antitrust and “Big Tech.” 11 Sept. 2019, 

crsreports.congress.gov/product/pdf/R/R45910.