According to expert testimony given by the witnesses, the crisis is being fueled by poor manufacturing practices that have led to recalls by foreign drug manufacturers, and the race to the bottom on generic drug prices that make it impossible for American generic drug makers to compete with subsidized competitors in India and China.
The annual trade deficit has fallen. Yet for 2023, our trade deficit of $773 billion was once again the world’s largest. Our goods deficit, at $1.06 trillion, exceeded a trillion dollars for the third year in a row.
Microchips, microchips, microchips… These days, almost everything we use in our daily lives is controlled by tiny integrated circuits. They’re the miniature brains in our
CPA’s report exposes that “Aurobindo does business with at least four suppliers that have ties to organizations under US sanctions for their connections to China’s military industry.”
The Senators argued China’s heavily subsidized products are hurting U.S. efforts to reshore domestic solar manufacturing — a key energy security goal.
Should the Chinese EV battery making company Gotion High-Tech get benefits under the Inflation Reduction Act? Rep. John Moolenaar wants to know.
China recently became the world’s largest car exporter, and by all accounts their global market share will keep expanding. One silver lining, at least, is that more and more leaders are figuring out that absent tariff increases, our nation will become a slave to foreign nations that do prioritize production.
The Active Pharmaceutical Ingredient Innovation Center (APIIC), a consortium of biotechnology industry, policy and academic leaders, said in a whitepaper released to the media on Jan. 24, that reshoring the manufacture of essential, life-saving pharmaceuticals was urgently needed.
It’s time to stop the destruction of American industry and innovation, the loss of high-paying manufacturing jobs, and the collapse of communities. We must stop importing more goods than we export, leaving us deeply indebted to our trading partners.
The capacity for China to overproduce anything is legion. This is especially true for big ticket items sold around the world, from cars to steel to China’s top green tech product line – solar cells and modules.
