On Tuesday, the U.S. government filed an anti-trust lawsuit in Washington state against Amazon Inc. that could transform the online shopping industry and Big Tech in the process.
The lawsuit, filed by the Federal Trade Commission, is a part of the Biden administration's effort to confront Big Tech's influence over Americans' lives as Google, Facebook, and Apple have all been accused of partaking in monopolistic practices against consumers.
The suit is backed by attorney generals from 17 states and the FTC argues that Amazon "Uses a set of inter-locking anticompetitive and unfair stratagies to illegally maintain its monopoly power," according to NBC News.
“There is immediate harm that is ongoing here,” FTC Chair Lina Khan said in a press conference. “Sellers are paying one of every $2 to Amazon. Shoppers are paying higher prices as a result, not just on Amazon but across the internet. And the public as a whole has been deprived of the benefits of open and fair and free competition. And so that’s what this case is really about, and those are the harms that we’re looking to fix.”
The FTC argues that Amazon dissuades sellers from lowering prices or discouting leading to consumer prices across the internet to increase. In addition, the suit claims that Amazon deters sellers from going to other sites via its fulfillment services.
This is a developing story and will be updated accordingly.
The lawsuit, filed by the Federal Trade Commission, is a part of the Biden administration's effort to confront Big Tech's influence over Americans' lives as Google, Facebook, and Apple have all been accused of partaking in monopolistic practices against consumers.
The suit is backed by attorney generals from 17 states and the FTC argues that Amazon "Uses a set of inter-locking anticompetitive and unfair stratagies to illegally maintain its monopoly power," according to NBC News.
“There is immediate harm that is ongoing here,” FTC Chair Lina Khan said in a press conference. “Sellers are paying one of every $2 to Amazon. Shoppers are paying higher prices as a result, not just on Amazon but across the internet. And the public as a whole has been deprived of the benefits of open and fair and free competition. And so that’s what this case is really about, and those are the harms that we’re looking to fix.”
The FTC argues that Amazon dissuades sellers from lowering prices or discouting leading to consumer prices across the internet to increase. In addition, the suit claims that Amazon deters sellers from going to other sites via its fulfillment services.
This is a developing story and will be updated accordingly.
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