FOR IMMEDIATE RELEASE: Thursday, August 23, 2018
CONTACT: Erin Humiston, (972) 874-5139, or erin@ipi.org
DALLAS – If a new NAFTA doesn’t improve intellectual property protections, it’s not a better deal, says a new publication released today by the Institute for Policy Innovation.
In “Why NAFTA 2.0 Must Enhance IP Protection,” IPI president Tom Giovanetti says President Trump is not wrong that NAFTA can and should be improved, and negotiators must insist on stronger IP protections to support a U.S. economy which is increasingly dependent on the products of innovation, creativity and invention.
Failure to improve the IP chapter in a new NAFTA, warns Giovanetti, will be a missed opportunity and a failure to deliver on a key campaign promise.
“Today, the U.S. is a creators’ economy; we patent new inventions, copyright new creative works, and trademark strong new brands,” he writes. “These industries… are responsible for nearly one-third of all U.S. jobs and for more than 38.2 percent of U.S. gross domestic product.”
Giovanetti noted the following specific IP improvements which should be included in a new NAFTA:
- Mexico should implement the WIPO Internet Treaties and adopt other basic copyright protections;
- Canada should not be allowed to continue to undermine the patents of U.S. companies;
- Mexico and Canada should step up to bear more of the cost of the pharmaceutical innovation that they enjoy, and there should be more transparency in government pricing decisions;
- Trade partners should be required to implement or improve protections against online infringement;
- Biologics should have 12 years of data protection, consistent with U.S. law; and
- There should be stronger protections against IP theft and against policies that discourage trade in digital goods and data.
“When NAFTA came into effect, the U.S. economy was already more dependent on innovation than upon traditional manufacturing,” said Giovanetti. “And in the 25 years since, that trend has only continued. Revisiting NAFTA provides an opportunity to materially improve the agreement for all parties involved, including updating its IP protections.”
The Institute for Policy Innovation is an independent, nonprofit public policy research organization based in Dallas. Tom Giovanetti is available for interview by contacting Erin Humiston at (972) 874-5139, or erin@ipi.org. Copies of “Why NAFTA 2.0 Must Enhance IP Protection,” are available at www.IPI.org.