Trump Card Spotlight: Antitrust Policy

Antitrust enforcement is poised to remain a central focus in Trump’s second term. The president-elect’s nominations are signaling that the assertive antitrust enforcement posture begun under his first administration – and carried on by President Biden – is likely to continue, particularly against “Big Tech.”

Trump’s Truth Social post announcing the nomination of Gail Slater to serve as assistant attorney general (AAG) for antitrust highlighted continued enforcement and scrutiny of “Big Tech” will be a key component of his approach to “Make America Competitive Again.” Slater was previously an economic and tech advisor to the first Trump administration and a senior advisor to VP-elect JD Vance, who has endorsed current Federal Trade Commission (FTC) Chair Lina Khan’s assertive record on competition.

Additionally, Trump’s nominee for attorney general, Pam Bondi, has been fairly active on antitrust, using her time as Florida’s attorney general to challenge mergers in healthcare and airlines and to sign on to conduct complaints against Apple, Facebook and Google.

With these nominations, look to see continued enforcement from the Department of Justice—although with maybe softer edges—and possibly new enforcement priorities. There could also be some revision of the more controversial aspects of the 2023 Merger Guidelines, though a wholesale rewrite seems unlikely. 

Still to come will be the appointment of the FTC Chair, a position that could complement the DOJ or, as some have suggested with a nod to the Trump coalition, be more from the traditional Republican antitrust wing.

In the wake of the 2024 presidential election and continued transformation of X under Elon Musk, some are turning to Bluesky as a potential new social media frontier. 

Bluesky is an open, decentralized platform gaining significant attention as an alternative to X. Originally conceived by Twitter co-founder Jack Dorsey in 2019, the app resembles pre-Musk Twitter in UX, content types and community-driven conversations. With a familiar (and less destabilized) look and feel, it is no surprise some are crowning it the replacement for X. 

The platform has also seen a significant user surge, largely in the UK and North America. More than a million users joined Bluesky the week following the U.S. election and the platform has seen a stream of user growth since. As of last week, third-party data experts say there are roughly 25 million users on the platform. 

So, should users and brands rush to join the platform? It depends.  

Joining now poses some risks. Not signing up, however, comes with risks like impersonation. While some brands are actively claiming handles or experimenting with content, many are not.  

Ultimately, investing in a completely new social media platform like Bluesky, Threads or any other Twitter alternative should be determined by a user or brand’s unique target audiences, communications needs and ability to sustain a new social media program – especially given the unknowns. So, while it may not be the perfect fit for everyone, at least for now, let’s say the sky’s the limit for Bluesky. 

Contact digital@fgsglobal.com for more on how to approach Bluesky. 

South Korean President Yoon Suk Yeol’s sudden declaration of martial law last Monday, followed by its rapid reversal just six hours later, signals a dramatic shift in the country’s political stability. In one of the more bizarre political episodes in a year filled with them, this attempt to outmaneuver opposition in parliament has backfired spectacularly. It has led to street protests, a sharp drop in stocks and the won and as well as an unsuccessful bid to impeach Mr. Yoon.

The incident highlights how quickly a political reputation can be damaged–especially in a country that was under a military dictatorship as recently as 1979. While the immediate effects are largely domestic – with analysts speculating about the need for fresh elections – the long-term consequences could be more profound.

The more significant fallout will likely be an increase in the country’s risk premium, leading to reduced foreign investment. Additionally, South Korea’s credibility as a stable ally may be severely compromised, at a time when geopolitical stresses in the region are already escalating.

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