S. 998: Medical Supply Chain Resiliency Act

This bill authorizes actions to facilitate trade in medical goods (i.e., medical devices, pharmaceutical goods, or inputs for such devices or goods).

Specifically, the bill authorizes the President to (1) negotiate, enter into, and enforce a trusted trade partner agreement with a country or countries with respect to medical goods; and (2) proclaim a modification of any existing duty, a continuance of existing duty-free or excise treatment, or additional duties to carry out the trade agreement. These actions may only be taken if the President determines, based on specified considerations, that the reciprocal elimination of existing duties or other import restrictions with respect to medical goods would contribute to U.S. national security and public health.

A trusted trade partner agreement may include certain provisions, such as those to (1) reduce or eliminate duties, quotas, or other trade barriers; (2) diversify and expand supplier networks to secure a reliable supply of medical goods; and (3) harmonize regulatory procedures.

Written by the Congressional Research Service, Library of Congress.