President Joe Biden spoke about the need for competition. The president said there are too many industries where a handful of large companies dominate the market. “Over time, it has reduced competition, squeezed out small businesses and farmers, ranchers and increased the price for consumers,” said Biden. “We end up with an industry like the meat processing industry where four big companies dominate the markets, pay ranchers less for their cattle (and) charge consumers more for beef.” There was a question about trade with China, the phase one trade agreement and the elimination of tariffs on some Chinese imports. Biden said U.S. Trade Representative Katherine Tai is working on this issue, but it is not yet resolved.
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