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Citing dramatically increased imports and decreased exports in the machine tool industry, semiconductor market, television market and auto parts industries, a U.S. Senator recently described America's industrial base as "in peril". 1 A widely held perception ascribes this decline in American business to foreign rivals' immunity from American antitrust laws.2 Specifically, it is felt that foreign business rivals are permitted to prey on American consumers while remaining immune from the antitrust burden borne by American companies, and that this inequity renders domestic firms disadvantaged on the global market.' These perceptions may be aggravated by the impending economic union in Europe. By December 31, 1992, twelve European Countries will join economic forces to become one of the most formidable entities in the economic world, the European Economic Community (EEC). 4 Companies operating in the United States will find themselves trading among and competing with a unified market of 325 million consumers with an average per capita income of $14,500.It is predicted that European businesses will emerge in 1993 larger, more efficient, and more profitable than ever before in world economic history.6 Given that the largest commercial partner of the United States is the European Community,' it is axiomatic that changes in the European Community

Antitrust in the United States and European Community: Toward a Bilateral Agreement