USTRx Act

This bill aims to counter international trade practices, specifically pharmaceutical price controls in high-income foreign markets, which are deemed to exploit United States innovation and distort global trade. Congress finds that these non-market-based pricing policies undervalue new treatments, diminish incentives for global pharmaceutical innovation, and could restrict access to new cures for U.S. patients. The legislation asserts that such exploitative behavior unfairly shifts the cost of developing new medicines to the United States, necessitating the use of trade tools to ensure foreign government regulatory reimbursement regimes are transparent, fair, and non-discriminatory. To address these concerns, the bill establishes a new position: the Chief Pharmaceutical Trade Negotiator within the Office of the United States Trade Representative (USTR). This negotiator will be responsible for conducting trade negotiations, enforcing agreements related to U.S. pharmaceutical products, and actively addressing practices that adversely impact market access for U.S. manufacturers. Additionally, the USTR, acting through this new negotiator, is mandated to annually compile a list of high-income countries and submit a detailed report on their pharmaceutical trade practices. This report will identify practices that are unfair, non-market-based, deny reciprocal market access, or diminish innovation incentives. Should adverse practices be identified, the USTR must submit a plan within 30 days to respond, which may include initiating investigations under Title III of the Trade Act of 1974.