Responding to the news that the US government has imposed tradesanctions on Argentina because it had failed to provide adequate intellectual property protection (Marketletter April 28), the country's drugmakers association, CILFA, issued a strong statement criticizing the move, claiming that the US Trade Representative had bowed to pressure from the USA's multinational pharmaceutical companies.
CILFA contends that rather than adhering to the Trade Related Aspects of Intellectual Property Rights (TRIPS) agreement, which establishes procedures for resolving international disputes, the Clinton Administration decided to act outside international law by unilaterally eliminating trade benefits granted to Argentina under the Generalized System of Preferences.
"Despite the substantial opposition of US interests, the Administration increased tariffs on the Argentine products, forcing US consumers who have nothing to do with the dispute to pay higher prices," it says, adding that it has also resulted in inflated prices of drugs "critical to the health of our nation's citizens."
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