The U.S. International Trade Commission — an independent government body that provides analyses of international trade issues to the president and Congress — recently issued a report with enormous implications for America's economy. The report concerns a proposal from several World Trade Organization member countries, who want to waive intellectual property protections on COVID-19 treatments and diagnostic tests invented by American companies. Last year, the WTO already took the unprecedented step of waiving intellectual property protections on COVID-19 vaccines. The Biden administration previously asked the USITC to study this expanded waiver proposal — and now, the report is here.
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