Trade Intellectual Property Protection Act: Congress Must Approve TRIPS Waivers
This bill aims to increase Congressional oversight of international trade agreements concerning intellectual property. It requires the President to oppose any waiver of international intellectual property obligations (TRIPS) unless Congress explicitly authorizes it through a statute. For citizens, this means that any changes to global rules on patents and copyrights, which could affect drug prices or technology access, will require clear legislative approval.
Key points
Congressional Approval Required: The President must oppose any waiver of World Trade Organization (WTO) intellectual property obligations (TRIPS) unless Congress passes a statute expressly authorizing the waiver.
Increased Oversight: This shifts a critical decision regarding global patent and copyright protection from the executive branch to the legislative branch.
Protecting IP Rights: The measure is intended to strengthen the protection of American innovators and companies in international markets.
Status:
Expired
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