The United States must remain the world’s leader in medical innovation, manufacturing, and entrepreneurship. The Treasury Department’s proposed rule implementing the COINS Act could unintentionally weaken American competitiveness by limiting the international partnerships that help U.S. companies develop new treatments and expand economic opportunity. These restrictions risk creating uncertainty for businesses and discouraging investment across the biotechnology ecosystem, including the small and Hispanic-owned businesses that supply and support it. We support strong national security protections, but they must be carefully targeted to avoid harming American businesses, workers, and patients. Treasury should prioritize policies that strengthen domestic innovation, protect intellectual property, and keep the United States competitive in the global economy.