Antitrust enforcement remains a concrete policy domestically, and an eccentricity internationally. Yet, global antitrust is imperative: International mergers, international cartels, and multinationals engaging with customers across borders prove the need for greater legal certainty when it comes to antitrust enforcement and policy. In this article, I expose the impossibility theorem of global antitrust: international coordination of antitrust policies remains a dream. I also point out how the current trend of ex ante competition rules and the internationalization of a precautionary approach to antitrust further complexifies the advent of a meaningful international antitrust framework and content. Finally, I suggest a simple, yet potentially powerful, solution for precipitating the advent of global antitrust: The re-activation of the institutional and policy tools already available at the World Trade Organization. In that regard, the G7 and the Organization for Economic Cooperation and Development have a considerable role to play in laying the intellectual grounds to make this solution a reality.
By Aurelien Portuese[1]
Antitrust enforcement remains a concrete policy domestically, and an eccentricity internationally. For decades, a chorus of experts has advocated in vain for stronger, more substantial cooperation between antitrust agencies regarding both their procedures and their antitrust policies.[2] The latest case in point: The pharmaceutical company Illumin
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