2026年全球反垄断十大关键主题报告：竞争监管挑战与企业合规策略

10 KEY THEMES – GLOBAL ANTITRUST Clarity inantitrust Insights that bring focus to the definingcompetition challenges of 2026 Introduction chains. Trade policy has now become a lever for wider politicaland security objectives, requiring businesses to monitor In 2025, global antitrust enteredan era defined by significantgovernmental and agencychanges against a backdrop New antitrust battlegrounds.Regulators are expanding theirsights beyond traditional product markets, targeting wage-fixing,no-poach and non-compete agreements. Labor effects are In high-stakes sectors such as life sciences, technology anddefense, enforcement will test the boundaries of competitionlaw – addressing pricing and non-price abuses, early Competition law became an instrument of industrial policyand geopolitical strategy, with regulators recalibrating theirapproaches amid shifting national priorities – trends we Risk and compliance evolution.Procedural compliance isnow a strategic imperative, with agencies wielding enhancedinvestigative powers and enforcing zero-tolerance penaltiesfor breaches worldwide. At the same time, private litigation 2026 takes these developments even further. The lines betweencompetition law and industrial policy have become more blurred,as governments and agencies have ushered in new priorities:economic growth, resilience, labor markets and technologicalcompetitiveness. Antitrust globally serves as a lens through This is the new enforcement landscape. Mastering itscomplexities demands globally integrated, technology-supportedstrategies and deep expertise. In a year in which uncertainty Unlocking opportunities and minimizing risk in this year’s antitrustlandscape requires anticipation, precision and the ability toconvert regulatory flux into competitive advantage. Freshfields’ Geopolitics and dealmaking.Dealmakers who can show howtheir transactions align with evolving policy goals are betterpositioned to navigate complex merger review and an expandingfield of unpredictable jurisdictional triggers. With regulators Alastair ChapmanGlobal Head, Foreign direct investment scrutiny is intensifying, with attentionshifting from investor origin to the sensitivity of assets – With thanks to Karen Slaney for her contribution. Contents Antitrust in thegeopolitical A calculus for global business Antitrust in the geopolitical arena:A calculus for global business Janet LangPartner, Andrew HutchingsPartner, Christine WilsonPartner, Martin McElweePartner, Ninette DodooPartner, Defining 2026 In brief •Navigate jurisdictional divergence.Potentially inconsistentenforcement approaches require businesses operatinginternationally to understand the political objectivesinfluencing competition policy in each major jurisdiction. Geopolitical priorities are recasting antitrust as a tool ofindustrial and economic strategy, not just a mechanism forprotecting consumers. Major jurisdictions now prioritizedomestic policy goals in antitrust enforcement. Companiesthat understand how competition law now interacts withnational security, resilience and domestic growth agendas •Develop evidence-led policy narratives.For complextransactions or higher risk business initiatives, companiesneed a factual narrative that explains how the activity •Make early, constructive engagement on remedies a corepart of strategy.Across mergers, antitrust investigations andmarket investigations, regulators, particularly in the UK, areshowing greater openness to creative behavioral and tailored Power, policy and the new global landscape Antitrust enforcement has become an instrument of geopoliticaland economic strategy. After a year of political transition acrossmajor jurisdictions, authorities are deploying competition rulesto advance national security, growth and resilience. The result isa more fragmented and often contradictory global environment Antitrust in the geopolitical arena:A calculus for global business Those that can read and anticipate policy shifts may unlockopportunities that did not exist under a purely competition-focused analysis. The concept of “economic patriotism” meansthat transactions that bolster strategic industries or sectoralchampions; develop domestic capabilities; or advance nationalresilience may now receive a more receptive hearing, even whenthey implicate traditional theories of harm. But companies “In recent years, antitrust enforcers have and national security now frequently play arole in their analysis. This more elastic analyticalframework presents both challenges andopportunities for the business community.Knowing which cards to play can make all Divergence as the defining feature Christine WilsonAntitrust Partner, Washington, DC As national priorities pull competition policy in differentdirections, enforcement is diverging not only in outcomebut in purpose. Major jurisdictions are increasingly shaping “The American people are once again facing ageneration of economic and industrial change.We