This chapter examines how the Foreign Subsidies Regulation (FSR) is perceived internationally, considering its position at the intersection of trade and competition law. Initially conceived in response to perceived distortive subsidies from China, particularly in the post-pandemic economic landscape, the FSR has since evolved into a broader instrument operating in a world where many major economies, including the EU and the US (via the Inflation Reduction Act), deploy substantial subsidy programs. The analysis examines third countries’ responses to the FSR and presents case studies of the US, China and India, as they are major trading nations. It also considers the United Arab Emirates, as it was the first country to be subject to an FSR decision.