Latest news with #CHIPSAct-style
Epoch Times
2 days ago
- Business
- Epoch Times
America's Defense Hinges on Making It Here
When the U.S. unleashed 14 of its massive 30,000-pound Massive Ordinance Penetrator (MOP) bombs on Iran, I couldn't help but think: we could use them all up before they can be replaced. Having spent 27 years in the Navy to include during two major wars, I've seen this story before—military operations often chew through hardware faster than we can keep up. The fix isn't just more money; it's a CHIPS Act-style plan to build what we need, here and now.
Boston Globe
19-02-2025
- Business
- Boston Globe
For some 100 critical drugs, the US supply comes from one factory in China
The Biden administration recognized this imperative. The CHIPS and Science Act poured over Advertisement But there's one major area where we remain worrisomely exposed: our access to life-saving medicines. Last year, Even when medications come from other countries, they Advertisement How did we get here? The story is familiar: In pursuit of lower costs, we outsourced production to China. American manufacturers couldn't compete with Chinese firms benefiting from state subsidies and looser environmental regulations. One by one, US factories closed. Today, for roughly 100 critical drugs, Under the logic of globalization, this was good business. In today's Age of Economic Warfare, it's a glaring vulnerability. Dating back to Trump's first-term trade war, Chinese officials and state-controlled media have repeatedly The national security implications of our dependence on China extend beyond the obvious. Even if Beijing never cuts off our pharmaceutical supply, the mere possibility could embolden Xi Jinping's geopolitical ambitions. Xi has ordered China's military to be ready for a Advertisement Fixing this problem won't be easy. Decades of globalization have left supply chains deeply entangled, making vulnerabilities hard to spot, much less mitigate. But with the right mix of policy and diplomacy, Trump can put the United States in a far stronger position. As a first step, the US needs a CHIPS Act-style initiative for generic drugs. Trump has proposed tariffs on imported pharmaceuticals, but duties alone won't revive domestic production. Congress has already introduced bipartisan proposals to boost domestic drug production, with support from figures as ideologically diverse as Pursuing total self-sufficiency, however, would be a fool's errand — it would be too costly and take too long. A smarter approach is to build resilient supply chains with trusted partners. Rather than threatening allies with tariffs, we should lower trade barriers with the EU and Canada while forging pharmaceutical partnerships in Latin America. Countries such as Mexico and Argentina already have strong drug industries; with targeted investments in infrastructure and workforce training, the region could become a key US supplier of essential medicines — and lessen our reliance on China. Globalization as we knew it is over. Economic warfare is the new normal. America is already adapting in technology and energy. Now, we must do the same for medicine. Otherwise, when the next crisis hits, we won't just be short on Advertisement Edward Fishman is a senior research scholar at Columbia University's Center on Global Energy Policy. His new book, , will be published on February 25. Send comments to magazine@
