US Congressman Darrell Issa on Unfair Global Trade Practices and Antitrust

Global Market Power and US Competitiveness

• 🎯 Congressman Issa argues that the relevant market in antitrust is now the world, especially for tech companies.
• ⚠️ He criticizes allies like Korea, Australia, and Europe for using their market power to adversely affect American competitiveness, even when US companies have dominant market shares.
• 💡 The Digital Markets Act is cited as an example where regulators intend to use legislation to diminish the competitive lead of American innovators.

Historical Trade Practices and Technology Transfer

• 📈 Over 30 years ago, South Korean companies were primarily interested in technology transfers rather than buying American products or forming joint ventures.
• 🚫 Even when manufacturing in the US, companies like Hyundai and Kia have been found to illegally bring in their own workers, disregarding US rules.

Critiques of Foreign Official's Statements

• 🗣️ Congressman Issa quotes Chairman Joe of the Korea Free Trade Commission, who disparaged America and questioned why white workers in the rust belt are angry.
• 🇺🇸 Issa attributes this anger to the lack of free and fair trade and the need to challenge the status quo of global competitiveness.

Defining Relevant Markets in Antitrust

• 🔍 Professor Portuguese emphasizes that defining the relevant market is fundamental to antitrust principles.
• 🌐 He agrees that the relevant market is global but stresses that it's incorrect to isolate