RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:USA Inflation Reduction Act (IRA) 2022 Re: Biotech and ChinaThe BIOSECURE Act, a proposed bipartisan legislation that aims to prohibit certain Chinese biopharmaceutical companies (and potentially other foreign entities from additional countries) from operating in U.S. markets due to perceived national security concerns, including claims that one of the companies named in the legislation has ties to the Chinese military.
“This concept of Chinese civil-military fusion is an amorphous one that you could use to justify going after every Chinese company,” reported Endpoints News. The legislation has borrowed its language from Section 889, which is a law that blocks U.S. companies from entering into contracts with certain Chinese telecom giants and other companies. Endpoint News reported that entire phrases of Section 889 are included “word for word” in the BIOSECURE Act, and that Section 889 was effective at limiting those telecom firms from contracting with U.S. companies for 5G network equipment.