This Act will give the Department of Justice's Antitrust Division and the Federal Trade Commission powerful new tools to enforce our antitrust laws against international cartels that harm American consumers and businesses. I am delighted that this important legislation, a priority of the Department and the Administration, has been passed by Congress.

The Act will allow us to enter into agreements with foreign antitrust agencies under which they will, on a reciprocal basis, provide us with investigative information in their possession and obtain antitrust evidence on our behalf from persons and businesses within their jurisdictions. The Act includes extensive safeguards to ensure that confidential business information supplied to foreign antitrust authorities will not be improperly used or disclosed.

After the President has signed the Act, Assistant Attorney General Anne Bingaman, along with the Federal Trade Commission, will initiate discussions with their foreign counterparts about bilateral agreements that will implement the Act.

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