America’s trade policy should reflect U.S. law and promote a balance between supporting the development of innovative medicines and promoting competition through greater access to generic and biosimilar medicines. Unfortunately, this policy objective, included in the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA), is often absent in U.S. trade policy.
U.S. trade has too often put the interests of pharmaceutical monopoly owners over the needs of the larger U.S. healthcare sector and, specifically, America’s generic and biosimilar manufacturers. As the U.S. government works to lower barriers for U.S. exports, the impact of trade policies on the U.S. economy must be considered. Restrictions and provisions included in trade agreements impact what laws and amendments Congress can and cannot pass. Therefore, it is critical that trade agreements, as they enter into force, have a holistic view of their benefits and costs.
U.S. trade policy should:
AAM applauds the House of Representatives’ overwhelming bipartisan passage of the U.S.-Mexico-Canada Agreement.
The revised USMCA creates greater opportunities for patients in Mexico, Canada and the United States to access less expensive medicines and promotes a competitive pharmaceutical market across the three countries.
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