Bringing pharmaceutical production back to the United States would create more than 800,000 American jobs, economists say.
A study by the Coalition for a Prosperous America’s Steven Byers and Jeff Ferry reveals that the U.S. could add hundreds of thousands of good-paying manufacturing jobs for American citizens and reduce its dependence on foreign countries like China if it reshored all pharmaceutical production.
Currently, according to the study, about 80 percent of pharmaceuticals imported to the U.S. arrive from ten foreign countries — including Ireland, Germany, Switzerland, Italy, India, Denmark, Belgium, Canada, United Kingdom, and Japan.
Overall, about 80 percent of active pharmaceutical ingredients imported to the U.S. arrive from China and India.
In response to the coronavirus crisis, President Donald Trump has called for an American independence agenda across the board to prevent the U.S. from ever again being reliant on foreign countries for necessary imports and supplies.