Medical Supply Chain Resiliency Act

Improved Supply Chain Security: The bill aims to diversify and expand supplier networks to ensure a reliable supply of medical goods during emergency situations (Section 3).

Enhanced National Security and Public Health: By establishing a framework for trade with trusted partners, the act intends to contribute to the national security and public health of the United States (Section 5).

Streamlined Movement of Medical Goods: The act seeks to expedite the cross-border movement of critical medical goods and eliminate unnecessary trade barriers (Section 3).

Increased Research and Development Cooperation: The legislation encourages international collaboration and facilitates data flows for life science research and development (Section 3).

Regulatory Efficiency: The bill aims to promote regulatory cooperation and harmonization to assist in the authorization and licensing of medical devices and pharmaceutical goods (Section 3).

Potential for Trade Disruptions: The President has the authority to proclaim modifications to existing duties, such as additional duties, which could impact trade costs (Section 5).

Risk of Dependency on Agreements: While the goal is diversification, the President may enter into agreements that involve the reduction or elimination of existing duties, quotas, and other trade barriers (Section 5).