Senator Richard Blumenthal had called previously on the Department of Justice and the Federal Trade Commission for an investigation into antitrust violations and how they could affect the prices that consumers pay for goods.
“Amazon’s price parity provisions may raise prices for consumers both in the short term and in the long run,” he wrote in letters to the DOJ and FTC in December. “Relatedly, Amazon’s price parity provisions may work to block the emergence of more efficient online marketplaces that might offer consumers lower prices on their favorite goods.”
In a statement to CNN Business, Blumenthal said he welcomed Amazon’s decision, but that he is “deeply troubled that federal regulators responsible for cracking down on anti-competitive practices seem asleep at the wheel, at great cost to American innovation and consumers.”
Read More.. Source CNN Business