Enact mutual recognition agreements with high-standard countries
What the document says“The U.S. should enact mutual recognition agreements for a wide variety goods with the United Kingdom, European Union, Japan, South Korea, Australia”
Mutual recognition means accepting another country's approvals and standards as equivalent. The essay says the benefits would be especially large for pharmaceuticals because the drug approval process is slower and more expensive than in other countries without being any safer, and that conservatives should embrace policies that increase competition while reducing the regulatory footprint.
What the document actually says“The U.S. should enact mutual recognition agreements for a wide variety goods with the United Kingdom, European Union, Japan, South Korea, Australia”
Accept the safety checks of countries with standards like ours.
A product approved in Japan must be checked again here. This essay says that is a waste. It says we should accept their checks.
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