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An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Pharmaceutical price controls

Government policies in foreign countries that set limits on how much drug manufacturers can charge for their medications.

Market-based policies

Economic approaches where prices for goods and services are primarily determined by supply and demand, with less government intervention.

High-income countries

Nations officially categorized by the World Bank as having a high gross national income per person, indicating a developed economy.

United States Trade Representative (USTR)

The U.S. government agency responsible for developing and enforcing U.S. trade policy, negotiating trade agreements, and addressing trade disputes.

Title III of the Trade Act of 1974

A section of U.S. trade law that gives the President authority to take action, such as imposing tariffs, against foreign countries that engage in unfair trade practices harmful to U.S. commerce.

Free-riding

A situation where one country benefits from the investments or efforts of another without contributing a fair share, in this case, benefiting from U.S. drug innovation without paying proportionally for its development.