News Snapshot:
The Biden administration wants to improve America’s international reputation. Therefore, we have approved the World Trade Organization’s proposal to waive all intellectual property rights related to COVID-19. The president undoubtedly intends this offer to be seen as a generous gesture that his “America First” predecessor would never have done. This was a subtext of the announcement, not Trump’s America. But this support is a toothless virtue, a signal at best, and a dangerous economic surrender in the worst case. Surprisingly, by doing so, it surprised our European allies. EU countries, especially Germany, do not support the proposed exemption. Even the...
