    [Public Papers of the Presidents of the United States: William J. Clinton (1994, Book II)]
    [November 2, 1994]
    [Page 1962]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Signing the International Antitrust Enforcement Assistance
    Act of 1994
    November 2, 1994

        I am pleased today to sign into law H.R. 4781, the ``International
    Antitrust Enforcement Assistance Act of 1994.'' This important
    Administration initiative will help the antitrust enforcement agencies,
    the Department of Justice, and the Federal Trade Commission (FTC), to
    protect American consumers and businesses from price-fixing and other
    anticompetitive conduct by international businesses operating in our
    markets.
        This Act will allow the Attorney General and the FTC to enter into
    agreements with foreign antitrust agencies. Under these agreements, the
    foreign agencies will, on a reciprocal basis, provide investigative
    information in their possession and obtain antitrust evidence on our
    agencies' behalf from persons and businesses within their jurisdiction.
    The Act includes appropriate safeguards to ensure that any confidential
    U.S. business information supplied to foreign antitrust authorities
    under those agreements will not be improperly used or disclosed.
        This Act reflects the United States' commitment and resolve to
    ensure that American consumers and businesses reap the benefits of free
    and fair trade in our markets, including lower prices. It will also
    ensure that consumers and businesses will not become victims of
    anticompetitive market abuses. This legislation will help us in
    enforcing our antitrust laws against foreign and international firms who
    participate in our markets to the same extent as they are enforced
    against U.S. firms. Until now, U.S. antitrust enforcement agencies have
    often found vital evidence to be out of reach abroad.
        At the initiative of Attorney General Reno and Assistant Attorney
    General Bingaman, this bill was introduced by a bipartisan coalition in
    both Houses of Congress and quickly won public and business support. I
    want to commend the bill's sponsors, particularly Chairman Metzenbaum
    and Senator Thurmond in the Senate, and Chairman Brooks and
    Representative Fish in the House, as well as the congressional
    leadership, for introducing and bringing this legislation to my desk so
    quickly.
        I look forward with American consumers and businesses to the
    strengthened antitrust enforcement that should result from this Act. I
    am certain that we will achieve the cooperation of our trading partners
    as we seek to negotiate these agreements on a reciprocal basis.

                                                          William J. Clinton

    The White House,
    November 2, 1994.

    Note: H.R. 4781, approved November 2, was assigned Public Law No. 103-
    438.