Smith: TRIPS Waiver Sets Dangerous Precedent, Puts Future Innovation At Risk

Washington, D.C. – Rep. Adrian Smith (R-NE), Lead Republican of the Ways and Means Trade Subcommittee, released the following statement after the World Trade Organization's Twelfth Ministerial Conference (MC12).

"To say I am disappointed the Biden administration paved the way for the TRIPS waiver to be agreed to during this week's MC12 is an understatement. Handing over hard-won American intellectual property will do little to address the supply chain and distribution challenges with getting the world vaccinated. Instead of looking ahead, this waiver leaves the door open for broader waivers in the future – setting a dangerous precedent that could have a chilling effect on future innovative vaccines and therapies. I will continue to hold USTR and the Biden administration accountable for this incredibly misguided step."