Washington, DC – The National Foreign Trade Council (NFTC) today submitted comments to the Commerce Department as part of the Administration’s 232 investigation of imports of pharmaceuticals and pharmaceutical ingredients.
NFTC urged the Administration to make its policy objectives clear and to approach the investigation with extreme caution given the risk tariff actions could have on access to life-saving medicines. Specifically, NFTC requests that the Administration not apply tariffs.
Instead, given the complexities of the global pharmaceutical supply chain, the Administration should deepen its partnership and coordination with allies and incentivize the domestic manufacture of pharmaceuticals and pharmaceutical ingredients through a positive regulatory, business and taxation framework.
NFTC’s comments, in part, emphasize that “it is not possible to utilize tariffs as a policy instrument to restructure pharmaceutical supply chains without irrevocable harm to drug manufacturing, to the health of Americans, and the American healthcare system.”
“We welcome the Administration’s focus on strengthening pharmaceutical supply chains, but tariffs aren’t the answer,” added Brad Wood, Senior Director for Trade and Innovation Policy. “We urge the Administration to narrow the focus of their investigation, and to prioritize policy actions that will strengthen American pharmaceutical competitiveness, support global supply chains, and protect patient and consumer access to the medicines and treatments that they rely on.”
NFTC’s comments can be found here.
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.
