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[EU: Article X.1: General Principles]
[EU: The Parties recognize the importance of free undistorted competition in their trade and
investment relations. Effective competition enforcement contributes to making markets work better
by ensuring that all companies compete their merits. This benefits consumers, businesses, and the
economy as a whole.]
[EU: The Parties acknowledge that anti-competitive business practices and State interventions have
the potential to distort the proper functioning of markets and undermine the benefits of trade
liberalization.]
Article X.2 [EU: Legislative Framework] [US: Anti-competitive Business Conduct]
[EU: 1. To promote free and undistorted competition in their respective territories,] each Party shall
maintain antitrust and merger competition legislation which addresses all of the following practices
in an effective manner:
(a) horizontal and vertical agreements between enterprises, decisions by associations of
enterprises and concerted practices which have as their object or effect the prevention,
restriction or distortion of competition,
(b) abuse by one or more enterprises of a dominant position,
(c) concentrations between enterprises which significantly impede effective competition, in
particular as a result of the creation or strengthening of a dominant position.]
[US: 1. Each party shall maintain competition law1 that proscribes anti-competitive business
conduct, with the objective of promoting economic efficiency and consumer welfare, and shall take
appropriate action with respect to such conduct.]
[EU: Article X.3: Implementation]
[EU: 1. The Parties shall each maintain an operationally independent authority responsible for and
appropriately equipped for the effective enforcement of the competition legislation referred to
above in X.2.]
[US: 1. Each Party shall maintain an authority or authorities responsible for the enforcement of its
competition law.]
[EU: 2. The Parties shall apply their respective competition legislation in a transparent and nondiscriminatory manner, respecting the principles of procedural fairness and the rights of defense of
the enterprises concerned, irrespective of their nationality or ownership status.]
[US: 2. The enforcement policy of each Party's authorities responsible for the enforcement of such
laws is to treat persons who are not persons of the Party no less favorably than persons of the Party
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[US: For the United States, competition law means the Sherman Antitrust Act of 1890 (15 U.S.C.A. §§ 1 et seq.),
the Clayton Act of 1914 (15 U.S.C. §§ 12-27), and the Federal Trade Commission Act of 1914 (15 U.S.C. §§ 4158), as amended, and regulations promulgated pursuant to these acts.]

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in like circumstances.]
[US: Article X.2: Procedural Fairness in Competition Law
1. Each Party shall ensure, that before it imposes a sanction or remedy against any person for
violating its competition laws, it shall afford such person: information about the competition
authority's competition concerns; a reasonable opportunity to be represented by counsel; and a
reasonable opportunity to be heard and present evidence in its defense, except that a Party may
provide for the person to be heard and present evidence within a reasonable time after it imposes an
interim sanction or remedy. In particular, each Party shall afford such person a reasonable
opportunity to offer evidence or testimony in its defense, including, where applicable, to offer the
analysis of a properly qualified expert, to cross-examine any testifying witness; and to review and
rebut the evidence introduced in the enforcement proceeding 2, subject to the confidentiality
provisions of this [Chapter]. Each Party's competition authorities shall normally afford persons
under investigation for possible violation of its competition laws reasonable opportunities to consult
with such competition authorities with respect to significant legal, factual or procedural issues that
arise during the course of investigation.
2. Each Party's authorities shall maintain procedures pursuant to which its competition law
investigations are conducted. Where such investigations are not subject to definitive deadlines, each
Party's competition authorities shall strive to conduct their investigations within a reasonable time
frame.
3. Each Party shall publish or otherwise make publicly available written rules of procedure and
evidence that apply to enforcement proceedings concerning alleged violations of competition laws
and the determination of sanctions and remedies thereunder. These rules shall include procedures
for introducing evidence, including expert evidence where applicable, and shall apply equally to all
parties to the proceeding.
4. Each Party shall provide any person subject to imposition of a sanction or remedy for violation of
its competition laws with the opportunity to seek review of the sanction or remedy, including review
of alleged substantive or procedural errors, in a court or other independent tribunal established
under that Party's laws.
5. Each party shall, in non-criminal matters, authorize its competition authorities to resolve alleged
violations voluntarily by consent of the authority and the person subject to the enforcement action.
A Party may provide for such voluntary resolution to be subject to judicial approval or a public
comment period before becoming final.
6. Where a Party's competition authority formally alleges a violation of its competition laws, such
authority shall be responsible for establishing the legal and factual basis for such alleged violation
in an enforcement proceeding.3]

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[US: For the purposes of this article, enforcement proceedings means judicial or administrative proceedings
following an investigation into alleged violation of the competition laws.]
[US: Nothing in paragraph 6 shall prevent a Party from requiring that a person against whom such an allegation is
made be responsible for establishing certain elements in a defense to the allegation.]

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Article X.5: Cooperation
[EU: 1. In order to fulfill the objectives of this Agreement and to enhance effective competition
enforcement, the Parties acknowledge that it is in their common interest to strengthen cooperation
with regard to competition policy development and the investigation of antitrust and merger cases,
to the extent compatible with the assisting Party's laws and important interests, and within
reasonably available resources.]
[US: 1. The Parties cooperate regarding their enforcement policies and in the enforcement of their
respective competition laws, including by seeking to coordinate investigations that raise common
concerns in competition law enforcement, based on the Agreement between the European
Communities and the Government of the United States of America regarding the application of their
competition laws, 23 September 1991. The US-EU Merger Working Group Best Practices in Merger
Investigations illustrate the agencies' commitment to bilateral cooperation.]
[EU: 2. In order to facilitate the cooperation referred to in paragraph (1) above, the Parties'
competition authorities may exchange information, subject to the confidentiality provisions laid
down in X.6.]
[US: 2. The Parties commit to maintaining a high level of international cooperation and
coordination. The Parties acknowledge the importance of cooperation and coordination
internationally and the work of multilateral organizations in this area, including the International
Competition Network and the Competition Committee of the Organization for Economic
Cooperation and Development.]
[EU: 3. The above cooperation will be developed in accordance with the existing EU-USA
Cooperation Agreements4.]
Article X.6 Confidentiality
[EU: 1. When exchanging information under this Chapter the Parties shall take into account the
limitations imposed by their respective legislations concerning professional and business secrecy
and shall ensure protection of business secrets and other confidential information.]
[EU: 2. When a Party communicates information in confidence under this Agreement, the receiving
Party shall, consistent with its laws and regulations, maintain the confidentiality of the
communicated information.]
[US: 1. Each Party shall protect from disclosure confidential business information, as well as other
information treated as confidential under its laws, that competition authorities obtain during the
investigation. Where a Party's competition authority uses or intends to use such information in an
enforcement proceeding, the Party shall, as permissible under its laws and as appropriate, provide
procedures for allowing respondents or defendants timely access to such information as is necessary
to prepare an adequate defense to the competition authority's allegations.]
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[EU: Agreement between the European Communities and the Government of the United States of America on the
application of positive comity principles in the enforcement of their competition laws (OJ L 173, 18.06.1998);
Agreement between the Government of the United States of America and the Commission of the European
Communities regarding the application of their competition laws (OJ L 95, 27.4.1995).]

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[US: Article X.3: Transparency
1. The Parties recognize the value of transparent competition enforcement policies.
2. On the request of the other Party, a Party shall make available to the requesting Party public
information concerning its:
(a) competition laws enforcement policies and practices;
(b) exemptions and immunities to its competition law, provided that the request specifies the
particular goods or services and markets of concern, and includes information explaining
how the exemption or immunity may hinder trade or investment between the Parties.
3. Each Party shall ensure that all final decisions finding a violation of its competition law are in
writing and, in non-criminal matters, set out findings of fact and the reasoning, including legal and,
if applicable, economic analysis, on which the decision is based. Each Party shall further ensure that
any such decisions and any orders implementing them are published, or where publication is not
practicable, otherwise made available to the public in such a manner as to enable interested persons
to become acquainted with them. The version of the decisions or orders that the Party makes
available to the public shall omit confidential business information, as well as information that is
treated as confidential under its laws.]
Article X.7 [EU: Review Clause] [US: Consultations]
[EU: 1. The Parties shall keep under constant review the matters to which reference is made in this
Chapter. Each Party may refer such matters to the (appropriate body established by the Agreement].
The Parties agree to review progress in implementing this Chapter every five years after the entry
into force of this Agreement, unless both Parties agree otherwise.]
[US: 1. To foster understanding between the Parties, or to address specific matters that arise under
this Chapter, each Party shall, on request of the other Party, enter into consultations within a
reasonable period of time regarding any matter arising under this Chapter. In its request, the Party
shall specify the matter on which it seeks to consult and indicate how the matter affects trade or
investment among Parties.]
[US: 2. The Party to which a request for consultations has been addressed shall accord full and
sympathetic consideration to the concerns raised.]
Article X.8: Dispute Settlement
[EU: 1. The provisions on the dispute settlement mechanism in Chapter/Section (xx) of this
Agreement shall not apply to this section.]
[US: 1. No Party shall have recourse to dispute settlement under this Agreement for any matter
arising under this Chapter.]

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