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Chronicles

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Treasury Secretary Steven Mnuchin urges DoJ to review monopolies in tech after a 60 Minutes segment about Google's monopoly in search

- Mnuchin acknowledged that antitrust matters don't fall under his jurisdiction, but said someone ought to be looking.  — His comments come on the heels of a …

CNBC Sara Salinas

Context & Ripple Effects

Treasury Secretary Steven Mnuchin's call for a Justice Department review of tech monopolies — prompted by a 60 Minutes segment alleging Google's monopoly in search — came from outside his own jurisdiction, but it landed just over a year before the DOJ formally opened an antitrust review of whether tech giants are unlawfully stifling competition across search, social media, and retail platforms.

First-order effects

  • Google is now facing explicit cabinet-level pressure over its search dominance, with Mnuchin publicly signaling that someone in government 'ought to be looking' even though antitrust sits outside Treasury's remit.
  • The DOJ's antitrust division, led by Makan Delrahim, is pushed into the spotlight as the agency expected to translate that political signal into a formal enforcement posture.

Second-order effects

  • Delrahim's subsequent public laying-out of potential antitrust arguments against big tech, and his warning that amassing vast quantities of consumer data can itself raise competition concerns, show the DOJ building the doctrinal case that a search-monopoly claim would rest on.
  • Rival platforms gain a policy channel: once the government frames platform scale as a competition problem, competitors and complainants have a standing route to press grievances through Washington rather than the market alone.

Third-order effects

  • The arc from Mnuchin's 2018 remarks runs through the DOJ's formal review to Assistant AG Jonathan Kanter examining 'monopoly choke points' in AI, cloud, data, and GPUs, and ultimately to sources reporting the DOJ weighing options after the Google monopoly ruling — including forcing a breakup or mandating data sharing — suggesting political attention hardened into structural remedies rather than staying rhetorical.

The trend: US antitrust pressure on big tech has escalated from political calls for review into formal investigations and, by 2024, court rulings with potential structural remedies like breakups and mandated data sharing.