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How Korean Antitrust Lawsuits Are Changing US Regulatory Norms
Truth on the Market
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The antitrust laws are designed to strengthen free-market competition and benefit consumers. But some foreign antitrust lawsuits and new related forms of regulation undermine competition and reduce economic welfare. A prominent recent example is Korean government antitrust lawsuits against U.S. firms, which have reduced U.S. and Korean welfare to the tune of $1 trillion. The U.S. government should consider targeting harmful misapplication of foreign antitrust and competition regulation as a key element of U.S. economic policy.