Publications

The era of free trade globalization is over. To replace it, the United States should lead a new class of binding deals with allies, with a dual objective of strengthening allied national economic power industries and weakening China’s.

Applying Most Favored Nation pricing to both Medicare and Medicaid—requiring U.S. prices for drugs that have already been launched to equal the lowest prices among a group of peer countries—is estimated to reduce U.S. pharmaceutical revenues by 49 percent and global pharmaceutical revenues by 31 percent.

The USMCA’s digital trade rules set the global standard. Now, policymakers should modernize them for the age of AI, close loopholes that enable data localization and discriminatory taxes, and build a more secure, competitive North American digital economy.

Congress has an opportunity to strengthen consumer protection while preserving the benefits of digital commerce. No marketplace can eliminate every counterfeit product or fraudulent seller. But every marketplace serving American consumers should meet reasonable expectations for seller accountability, transparency, and effective action against harmful conduct.

The FDA is considering allowing seven unapproved peptides—substantially sourced through a Chinese gray market—to be used by U.S. compounding pharmacies, despite its own scientists warning against it. Approving them would legitimize unvetted foreign suppliers and undermine evidence-based drug regulation.

The utopian vision of globally integrated, democratic, free-market economies working together in harmony has not materialized. Meanwhile, the belief that China could not innovate—and that America would continue to lead in advanced technologies—also has proven to be false. These new realities require bold reforms in the U.S. research system.

The Commission should approve this transaction because it will serve the public interest by increasing spectrum productivity, increasing competition in the emerging D2D marketplace, and extending mobile communications coverage to remote and underserved areas.

Both small and large firms are essential to America’s innovation system because they specialize in different forms of innovation. Congress should double the regular R&D tax credit to 40 percent and reduce the red tape associated with claiming it.

Joseph V. Coniglio hosts retired Jones Day partner and former DOJ Antitrust Division leader Joe Sims, who recounts how he discovered antitrust in law school, explains the origins and impact of the Hart-Scott-Rodino Act, and forecasts diminished FTC antitrust authority.

Manufacturing labor productivity growth is a key driver of the United States’ long-term economic performance and global competitiveness, but it has slowed sharply since 2005. Congress should provide a 25 percent tax credit to firms adopting productivity-enhancing technologies to help reverse this slowdown.