Fast Track to Nowhere? Biologic Intellectual Property in the Trans-Pacific Partnership
President Obama’s TPP Failure Will Harm Free Trade Overall. As demonstrated by the endorsement of a number of leading business groups, overall, TPP would be beneficial to free trade. Other industries dependent on intellectual property rights, such as the film industry, achieved satisfactory outcomes and support the TPP. By failing to secure adequate intellectual property rights in biologic medicines, thereby making the TPP unacceptable to many in Congress, the president has jeopardized future innovation in those industries, too.
In hindsight, giving President Obama fast track authority led to countless wasted hours negotiating a deal that is failing. If the next president manages to resuscitate the TPP and other trade deals, he or she will have to ensure all types of intellectual property are protected to the highest standard. Not doing so will perpetuate the harm done to free trade by President Obama’s misuse of fast track.