U.S. Senator Ted Budd (R-N.C.) has joined forces with Senator Todd Young (R-Ind.) and other Senate Republicans to address concerns over foreign price controls affecting American patients. The group sent a letter to U.S. Trade Representative Jamieson Greer and Secretary of Commerce Howard Lutnick, urging the Trump Administration to tackle these issues in ongoing trade negotiations.
The senators expressed their support for President Trump’s efforts to ensure that foreign nations contribute fairly to pharmaceutical research and development costs. They stated, “For too long, some developed nations have benefited from American-financed innovation by implementing policies that suppress prices and limit spending on new medicines in their own markets.”
In addition, the letter calls for the appointment of a senior political official within the Office of the U.S. Trade Representative to lead discussions on pharmaceutical pricing. It also emphasizes the need for nominating a Chief Innovation and Intellectual Property Negotiator, a position established by Congress in 2015.
“Appointing an experienced Chief Innovation and Intellectual Property Negotiator would send a strong signal to our trading partners,” wrote the senators.
Other signatories include Senators Thom Tillis (R-N.C.), Tim Scott (R-S.C.), Roger Marshall (R-Kan.), Bill Cassidy (R-La.), Steve Daines (R-Mont.), Cynthia Lummis (R-Wyo.), Ashley Moody (R-Fla.), Chuck Grassley (R-Iowa), Tommy Tuberville (R-Ala.), Roger Wicker (R-Miss.), John Boozman (R-Ark.), Jim Banks (R-Ind.), Jon Husted (R-Ohio), Cindy Hyde-Smith (R-Miss.), Tim Sheehy (R-Mont.), and Lindsey Graham (R-S.C.).
The letter highlights Executive Order 14297 issued on May 12, which directs Commerce and USTR to remove policies abroad that force American patients to bear excessive global pharmaceutical research costs.
The senators urge immediate action from Commerce and USTR in negotiating binding commitments with trading partners. They stress that resolving unfair foreign government policies will support American workers and patients.
“We look forward to working with you as you confront these longstanding and unfair price controls,” concluded the senators.
