Legislative Update: Pharmaceuticals, Regulatory Relief, Semiconductors, Trade Secrets, Citrus
For more information on pursuing trade policy interests through the legislative process, please contact Nicole Bivens Collinson.
Pharmaceutical trade. The Securing America’s Medical Supply Chain and Advancing the Production of Life Saving Medicines Act (S. 3942, introduced June 10 by Sen. Loeffler, R-Ga.) would establish the position of chief pharmaceutical and medical supply chain negotiator in the Office of the U.S. Trade Representative to (1) be responsible for conducting trade negotiations and enforcing trade agreements related to acts, policies, and practices of foreign governments that fail to appropriately reward U.S. innovation with respect to pharmaceuticals, (2) advance domestic production of life-saving medicines, and (3) secure the U.S. medical supply chain to eliminate reliance on foreign governments.
The Bring Entrepreneurial Advancements To Consumers Here in North America Act (S. 3945, introduced June 10 by Sen. Loeffler, R-Ga.) would amend the Internal Revenue Code of 1986 to provide incentives for relocating manufacturing of pharmaceuticals and medical supplies and devices to the U.S. Loeffler said that for companies to qualify for these incentives they would have to maintain at least the same production levels in the U.S. as they had in the country they are leaving.
Regulatory relief. The Regulatory Relief to Support Economic Recovery Act (S. 3941, introduced June 10 by Sen. Loeffler, R-Ga.) would rescind, modify, waive, or provide exemptions from regulations and other requirements that may inhibit economic recovery from the COVID-19 pandemic. This bill would codify the executive order President Trump issued in May providing for similar action.
Semiconductors. H.R. 7178 (introduced June 10 by Rep. McCaul, R-Texas) would increase federal incentives to enable advanced research and development on semiconductors, secure the supply chain, and ensure long-term national security and economic competitiveness.
Trade secrets. The Protecting American Intellectual Property Act (S. 3952, introduced June 10 by Sens. Van Hollen, D-Md., and Sasse, R-Neb.) would require a report to Congress every six months identifying (1) any individual or firm that has engaged in, benefitted from, or materially assisted the significant and serial theft of U.S. trade secrets, if that theft constitutes a major threat to U.S. national security, foreign policy, economic health, or financial stability, and (2) the chief executive officers and board members of the reported firms and whether those individuals have benefitted from the significant and serial theft of U.S. trade secrets. The president would then have to (1) impose either property-blocking sanctions or a denial order for identified firms and (2) impose property-blocking sanctions and prohibit entry into the U.S. for identified individuals. These penalties would terminate if the president certifies to Congress that the individual or firm is no longer engaged in the sanctionable behavior. The legislation also includes a national security waiver.
Citrus. The U.S. Citrus Protection Act (H.R. 7184, introduced June 10 by Rep. Steube, R-Fla.) would prohibit imports of commercially-produced fresh citrus fruit originating from China.