Watch live as White House press secretary Jen Psaki holds briefing

Jen Psaki, the White House press secretary, is due to hold a briefing on Friday as the Biden administration prepares to announce a sweeping executive order to boost competition in the US economy, potentially saving Americans billions of dollars.

The executive order includes over 70 initiatives the White House wants over a dozen agencies to undertake.

The wide-ranging order is set to significantly target Big Tech platforms, alongside job market, healthcare, and transportation sectors.

Bipartisan hostility toward Big Tech has grown in recent years with the belief that its size and swagger have stifled competition, limited consumer choice and raised prices.