It's a difficult problem to tackle for sure. The easy solution (at least, if you allow yourself to simply ignore the consequences of doing so :) would be to just increase import duties so that retail prices match with locally produced products, but I guess that's quite incompatible with the idea of a free market. It also won't make you a popular global player.

Still, as a thought experiment, I wonder how it would work out for the global economy if every country/economic block in the world would simply match prices of imported products with comparable locally produced items. I guess one of the big issues would be how to assure comparisons between products are fair.