Commentary: Keep medicine out of the US-China tech war

RESTRICTIONS WILL BE A MISTAKE

But that would be a mistake. Novel medicines can’t be treated in the same zero-sum way as semiconductors, electric vehicles or large language models, where one competitor’s win comes at the expense of the other. The industry is inherently collaborative, especially in life sciences. The origin of a lifesaving treatment matters far less than whether patients can get access to it.

The US Treasury Department appears to understand the distinction. It’s considering rules that would preserve American drugmakers’ ability to license innovative treatments from Chinese companies, Reuters reported recently, while restricting investments involving pathogens or technology that could be weaponised. It’s a sensible approach. Washington has a strong incentive to keep potentially dangerous technologies out of an adversary’s hands, but that doesn’t mean every discovery from Shanghai is a national security threat.

To be sure, the US absolutely should be trying to beat China in the biotech race with its greater access to capital and a larger cohort of international scientists. That’s why the Trump administration would be wise to back away from further cuts to America’s top science agencies, whose funding supports the basic research that can ultimately produce commercial breakthroughs, and which draws top scientific talent to the country. Washington could also press ahead with plans to create a supply chain that is independent of China for producing raw materials needed to make generic medicines.

There are legitimate reasons to ensure domestic pharmaceutical capacity and preserve US innovation. But restricting access to foreign medicines is not the way to accomplish that goal. Washington should try to outdo China, not ignore its innovations.