[Weekly Compilation of Presidential Documents Volume 30, Number 44 (Monday, November 7, 1994)]
[Pages 2249-2250]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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

[[Page 2250]]

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.