America’s healthcare system cannot remain dependent on fragile and subsidized foreign supply chains for generic pharmaceuticals and other critical countermeasures that are fundamental to patient care.
A new Federal Reserve FEDS Note finds a systematic link between Chinese industrial policy interventions and export growth. The 15 most policy-targeted sectors accounted for 76% of the increase in China’s aggregate trade surplus from 2017 to 2024.
Last November, the White House released its National Security Strategy of the United States that laid out the Trump administration’s strategy for the Americas. In it, the strategy imperative for the region said that one of Washington’s key goals was to make sure the Americas remains “free of hostile foreign incursion or ownership of key assets,” and was supportive of U.S. access to critical supply chains. China wasn’t mentioned by name as the hostile adversary, but China is precisely who the White House had in mind.
Everyone agrees, in particular that reliance on China for key ingredients used to make medicines is risky; and everyone agrees that further up market – in advanced biotech – China is becoming an unmatched rival that could easily shrink America’s role in drug innovation.
The report finds that China has consolidated global dominance in the midstream stages of battery supply chains—refining and chemical conversion—giving the Chinese Communist Party significant influence over pricing, supply availability, and industrial investment.
This bipartisan letter from the Senate Banking Committee is a powerful signal that Congress is finally taking seriously what CPA has been warning about for years: the Chinese Communist Party has been exploiting America’s capital markets to fund its military modernization, underwrite its surveillance state, and enrich entities engaged in genocide, forced labor, and espionage — all with American investor capital.
Should Chinese organizations and individuals be allowed to donate to American colleges, and should their PhD students have access to scientific research grants? It’s not an easy question to answer.
The letter underscores a critical point: any effective policy response must address the entire solar supply chain—from polysilicon to ingots, wafers, cells, and finished modules—rather than focusing on a single segment in isolation.
It’s the second month in a row now that the U.S. Senate Special Committee on Aging has taken up the question of our woeful generics supply chain. This time, however, Ranking Member Kirsten Gillibrand (D-NY), started the hearing off by touching on a key topic in pharmaceuticals: the cost equation can no longer override the quality equation.
To reduce the deficit in a durable way, the United States must do more than tariff goods. It must tariff the money.
