In the discussion, Gary Cohn, then chief economic advisor to President Trump, argued against a trade war with China by invoking a Department of Commerce study that found that 97 percent of all antibiotics in the United States came from China. “If you’re the Chinese and you want to really just destroy us, just stop sending us antibiotics,” he said.
Chinese companies formed a cartel and dumped penicillin ingredients on the global market at very low prices beginning in 2004, the same year the New York plant closure was announced. It could not compete with China’s illegal trade practices and its government subsidies. China’s cartel also forced the closure of penicillin fermentation plants in Europe and India. After four years, when China gained a chokehold on global supply, the Chinese cartel increased prices dramatically.
...............and displace U.S. and virtually all other competitors; to undermine America’s free market system; and to create perpetual dependence on China for medicines and everything else it sells to the U.S