How does international law address issues related to antitrust and competition?

International law addresses issues related to antitrust and competition by setting out the principles organizations and individuals must follow in order to ensure a fair and competitive market. Antitrust laws, such as the Sherman Antitrust Act, are designed to protect consumers by preventing companies from engaging in unfair business practices such as price fixing, monopolization, and other anti-competitive practices. These laws are enforced by government agencies such as the Federal Trade Commission (FTC) in the United States. International organizations, such as the European Commission, have also implemented antitrust and competition laws, which are meant to ensure a free and fair market in the European Union. These laws prohibit companies from artificially inflating prices, and also require them to disclose information about their activities so that consumers can make informed decisions when shopping. In addition to laws, international organizations and governments also implement policies and regulations to help ensure there is a level playing field between companies operating in different countries. For example, the World Trade Organization (WTO) has established rules that countries must abide by in order to ensure that foreign companies do not have an unfair advantage over domestic ones. Overall, international law is an important tool for ensuring a fair and competitive market. Through laws, regulations, and policies, international organizations and governments are working to ensure that businesses are not engaging in anti-competitive practices that deprive consumers of choices and higher-quality products and services.

How does international law address issues related to antitrust and competition?

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