Antitrust enforcement remains a concrete policy domestically but an eccentricity internationally. Yet, as Aurelien Portuese writes for Competition Policy International, global antitrust is imperative: International mergers, international cartels, and multinationals engaging with customers across borders underscore the need for greater legal certainty when it comes to antitrust enforcement and policy.
In this article, Portuese exposes the impossibility theorem of global antitrust: International coordination of antitrust policies remains a dream. He points out how the current trend of ex ante competition rules and the internationalization of a precautionary approach to antitrust adds further complexity to a meaningful international antitrust framework and content.
Portuese suggests a simple, yet potentially powerful, solution for precipitating the advent of global antitrust: reactivating 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.
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