Summary
President Trump is focusing on revisiting and strengthening the United States-Mexico-Canada Agreement (USMCA) to protect U.S. businesses, particularly in terms of intellectual property and drug prices. His administration aims to restore key protections for American innovators that were removed under Democratic pressure. The review of USMCA may address issues with Canada and Mexico's current handling of IP protections and drug pricing policies.
Key Facts
- The USMCA is a trade agreement between the U.S., Mexico, and Canada.
- President Trump aims to restore intellectual property protections removed from the original USMCA.
- The U.S. wants Mexico and Canada to offer protections for new medicine data, similar to those in the U.S.
- Mexico and Canada are criticized for making it easier to replicate U.S. drugs, impacting American companies.
- Mexico is on the U.S. trade representative's Priority Watch List for IP concerns, such as counterfeiting.
- Canada, on the Special 301 Watch List, faces criticism for patent rules and drug price controls affecting U.S. companies.
- The U.S. provides 12 years of regulatory data protection, which was reduced in the current USMCA.
- Canada and Mexico's actions are seen as undercutting American innovation and making it harder to fund research.
