BIO reacts to pending tariffs

BIO reacts to plans for tariffs on Canada, Mexico, and China—plus, BIO explains how the new administration can use biotech to help farmers. (671 words, 3 minutes, 21 seconds)  

BIO reacts to announcement of tariffs

President Trump’s executive orders setting tariffs on goods from Canada, Mexico, and China, announced Saturday, are expected to take effect tomorrow.

The tariff rates: “25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China.  Energy resources from Canada will have a lower 10% tariff.” 

Countermeasures planned: Mexico, Canada, and China have all said they will retaliate with tariffs against U.S. goods. Trump said he would speak to the leaders of Canada and Mexico today.

BIO’s view: “Preserving U.S. leadership in biotechnology is imperative for economic strength, national security and the health of all Americans. We look forward to working with the President and Congress to ensure the U.S. and our allies continue to lead the world in biomedical and agricultural innovation,” says a statement released by BIO today. “We must also recognize that our industry today relies on a diverse and global supply chain. Any policy, including the use of tariffs, must be mindful of the downstream effects on patients and consumers. We share the President’s goals to address unfair trade practices abroad and encourage the Administration and Congress to prioritize strengthening global intellectual property protections and ensuring that the regulatory environment at home advances the biotech breakthroughs that will allow us to win the 21st century biotech race.”

How the new administration can use biotech to help farmers

“For struggling American farmers, help from the incoming Trump administration cannot come too soon,” writes BIO’s Interim Head of Agriculture and Environment, Sylvia Wulf, in an opinion piece published in Agri-Pulse last week.

Why it matters now: The Senate Agriculture Committee is expected to give bipartisan support this evening for Agriculture Secretary nominee Brooke Rollins, forwarding her for a full Senate vote.

“Farm income nosedived by nearly a quarter over the past two years, falling $6.5 billion last year alone, making it even more difficult for these farms merely to break even,” Wulf writes.

A solution: “The seeds of an American farm revival are already at hand. Breakthroughs in farming science, enabled by biotechnology innovations, have put food producers in a position to thrive. The incoming Trump team can guarantee this turnaround—securing our food security domestically and our agricultural dominance globally—by championing the industry fostering these game-changers.”

What the White House can do: “Trump’s campaign pledge to slash onerous regulations choking American businesses holds enormous promise for biotech entrepreneurs and the farmers eager to work with them.”

“The more consumers learn about these benefits, the more enthusiastic they become about the products: Four in five Americans whose opinions have changed report they now hold a more positive view, according to Morning Consult,” Wulf notes.

Read the piece in Agri-Pulse.

What Else to Read This Week

Novo Nordisk’s Ozempic® approved for kidney disease treatment. The FDA approval means “Ozempic® is now indicated to reduce the risk of kidney disease worsening, kidney failure, and death from cardiovascular disease in adults with type 2 diabetes and chronic kidney disease,” Novo Nordisk says. Approximately 40% of people with type 2 diabetes also experience chronic kidney disease. “This approval for Ozempic® allows us to more broadly address conditions within cardiovascular-kidney-metabolic syndrome, which affects millions of adults,” says Anna Windle, SVP Clinical Development, Medical & Regulatory Affairs at BIO member Novo Nordisk.

BIO President & CEO John F. Crowley spoke at MassBio’s Policy Leadership Breakfast in Boston last week. He reminisced about his early career in Boston and said it’s important that BIO and MassBio tell the story of biotech’s contributions. He said we need to improve patient access and called for a reimagining of the clinical trial paradigm and measures to ensure supply chain resilience. He also urged the removal of obstacles to patients obtaining the medicines their doctor prescribes. MassBio is a member of the Council of State Bioscience Associations (CSBA) and is recognized by BIO as an affiliate organization.

Beltway Report: What's Ahead in Washington

The Senate Agriculture Committee is expected to give bipartisan support this evening to Agriculture Secretary nominee Brooke Rollins, forwarding her nomination for a full Senate vote, Bloomberg reports. The Senate Finance Committee is set to vote tomorrow on whether it recommends the nomination of Robert F. Kennedy Jr. for Health and Human Services. On Thursday, the Senate Finance Committee will hold a hearing on the nomination of Jamieson Greer for United States Trade Representative.