Wednesday, Senator Tom Cotton (R:AR) and Congressman Mike Gallagher (R:WI) introduced a bill to end US dependence on Chinese-manufactured pharmaceuticals after China threatened to cut America’s access to vital drugs.
“The Chinese Communist Party has threatened to cut off America’s access to vital drugs in the midst of a pandemic caused by its own failures. It’s time to pull America’s supply chains for life-saving medicine out of China and make the CCP pay for contributing to this global emergency,” said Senator Cotton.
“The Chinese Communist Party’s outrageous threats to withhold lifesaving drugs from the US endangers public health and should open our eyes to our dangerous over-reliance on China in our medical supply chain,” said Mr. Gallagher. “This is a national security imperative that to many Americans, is a matter of life and death. It’s past time for us to develop an aggressive plan to move critical pharmaceutical supply chains away from China.
Specifically, their bill will do the following:
- Track active pharmaceutical ingredients through an FDA registry.
- Prohibit pharmaceutical purchases from China or products with active pharmaceutical ingredients (APIs) created in China.
- Create transparency in the supply chain by instituting a country of origin label of all imported drugs.
- Provide economic incentives for manufacturing drugs and medical equipment in the United States.
At the end of World War II, the United States was the dominant manufacturing country of the world, under President Trump, our current wartime President, it will be again.
Have a healthy day.
Latest posts by Paul Ebeling (see all)
- Wall Street’s Key Stock Analysts Research Report, All Buys - April 2, 2020
- Gold is the ‘Go To’ Asset in Times of Crisis - April 2, 2020
- Thursday’s World Stock Markets Update: Asia and Oceania - April 2, 2020