FTC Should Approve Pro-Competitive Mergers Like Covetrus-MWI to Sustain Trump's Economic 'Golden Age'
Source: "STEPHEN MOORE: America's golden age is here. Trump's FTC should keep it roaring | Fox News." August 23, 2026. www.foxnews.com
The Gist
The author argues that America's economy is booming thanks to Trump's deregulation policies, and that the FTC should now approve business mergers - like the Covetrus-MWI animal health deal - because they help companies compete rather than harm consumers. He contrasts this with the previous FTC chair Lina Khan, who he says blocked mergers for political reasons rather than sound economic ones.
Conclusion
The FTC under Chairman Ferguson should approve mergers like Covetrus-MWI on their merits rather than blocking them for ideological reasons, as this approach will sustain America's current economic prosperity.
Premises
- The American economy is currently thriving, with record stock market highs, strong GDP growth, and robust corporate earnings, due to Trump/Vance policies of deregulation and unleashing the private sector
- The previous FTC under Lina Khan pursued an ideological 'war on mergers,' blocking 43 deals and treating abandoned mergers as victories regardless of their merits
- Khan's FTC misallocated priorities by fighting mergers while ignoring the real drivers of inflation that were hurting American families
- Companies must be allowed to consolidate and adapt to survive evolving market conditions, or they risk becoming obsolete
- The Covetrus-MWI merger specifically would help smaller distributors compete against larger threats (drug manufacturers selling direct, and retail giants like Amazon, CVS, and Chewy)
- This merger would create efficiencies of scale that translate into lower prices for veterinarians and better, more affordable care for pet owners
- Chairman Ferguson has pledged to restore 'certainty and clarity' to merger review, evaluating deals on merits rather than ideology
Assumptions
- Mergers generally increase efficiency and lower consumer prices rather than reducing competition and raising prices
- The current economic strength (stock market, GDP) is primarily attributable to deregulation rather than other factors (e.g., AI investment boom, global trends)
- Blocking mergers under Khan was purely ideological rather than based on legitimate antitrust concerns
- Market consolidation in response to competitive pressure will not itself create new anticompetitive harms
- The interests of distributors seeking to merge align with the interests of consumers and veterinarians
- Regulatory approval of mergers is a primary driver of economic growth and lower prices, rather than one of many factors