April 26, 2023
If somebody stole your car, hacked your bank account, and emptied your retirement savings, your response certainly would not be to reward your perpetrator with an expensive gift. Yet this policy of rewarding the criminally complicit is now being emphatically embraced by the Biden administration in its quest to hand over highly advanced and proprietary U.S. patents to China and other nations who for decades have been building their economies on stolen American intellectual property (IP).
The theft of U.S. innovation by China alone costs our economy between $225 and $600 billion a year, according to a former U.S. Trade Representative, yet the White House seeks to invoke an expanded TRIPS Waiver that would gift highly valuable and cutting-edge U.S. medical patents to a repressive regime at the expense of American innovators and inventors. This malfeasance is part of the far-left’s agenda for greater control of our healthcare system by commandeering the private market, and the Chinese could not be happier about it.
According to the Council for Innovation Promotion’s Executive Director Frank Cullen, “China has sought to weaken America, and enrich itself, by stealing cutting-edge technologies critical to our national security and economic well-being.” Chinese companies backed by the Chinese Communist Party (CCP) steal American technology, the profits that go with it, and the incentives to attempt further innovation.
Of course the CCP adamantly supports an expanded TRIPS Waiver. The waiver in its original form is already paving a dangerous path for our domestic drug manufacturing industry by removing patent protections for COVID-19 vaccines. The expanded waiver would rope in COVID-19 treatments and diagnostics, essentially giving our medical technology to foreign countries. All of the scientific advancements America unearthed in response to the global pandemic would be free for the taking, serving a devastating blow to our framework of IP protections that are the foundation for hope in future cures and treatments.
Read full article here:
