America is facing a growing crisis in its medical system — not from a lack of talent or innovation, but from a breakdown in the control, safety and supply of essential medicine. Our growing reliance on imports is now driving serious drug shortages, destabilizing supply chains and increasingly making medications unsafe.
A newly released report from the Congressional Budget Office (CBO) has upended the way policymakers should think about tariffs.
In the U.S. today, frontline cancer treatments are being rationed. ERs are short on sedatives. Amoxicillin—one of the most prescribed antibiotics in the country—has been in critical shortage. These are not temporary disruptions. They reflect a structural breakdown caused by the erosion of America’s pharmaceutical manufacturing base and a decades-long surge in generic drug imports.
Treasury Secretary Scott Bessent stepped into somewhat hostile territory in the Senate Finance Committee hearing on Thursday. But despite dramatic criticism from Ranking Member Ron Wyden (D-OR) and other top Democrats on the Committee, Bessent took an early victory lap on tariffs.
U.S. based generic drug makers need government support to expand – and maybe even to survive – the onslaught of imports nearly every member of the House Energy and Commerce Committee Subcommittee on Health said in a hearing on Wednesday.
The second round of the early 2000s ‘China Shock’ will impact the rest of the world more than it will the United States. Tariffs and industrial policies – like the CHIPS Act and the Inflation Reduction Act – have somewhat protected the U.S. from China’s relentless exports.
At a June 4 hearing before the House Natural Resources Committee’s Water, Wildlife and Fisheries Subcommittee, lawmakers and industry representatives expressed growing frustration with what they described as an overregulated domestic seafood industry that is steadily losing ground to foreign competition.
Importers slowed their buying frenzy that occurred prior to the ‘Liberation Day’ tariffs and now April’s trade figures show a not-surprising 16.3% drop for the month to $351 billion.
By the time the Committee hearing with Lutnick was over, it seemed pretty clear that the Trump administration has shifting ideas about reciprocity today, and are less sure about the nature of them than they were before “Liberation Day” on April 2.
The President’s tariff increase comes at a critical moment, reflecting a clear understanding of the ongoing threats faced by the U.S. aluminum and steel industry, particularly from heavily subsidized foreign competitors.
