This hurts US companies and replaces them with cheap imitators.
Hans Sauer 21, Deputy General Counsel, and Vice President for Intellectual Property for the Biotechnology Industry Organization and adjunct professor at Georgetown Law, 10/14/2021, "Comments submitted by Biotechnology Innovation Organization (BIO)," https://www.regulations.gov/comment/PTO-P-2021-0032-0128
Finally, the fact that U.S. eligibility jurisprudence produces systematically different patentability outcomes as compared to other industrialized countries is likely to have implications for U.S. international competitiveness. As a simplified proposition, when U.S. companies seek to enter e.g. the Chinese or EU markets, they will have to contend with relevant patents that may exist in those jurisdictions. Conversely, when Chinese or European companies seek to enter the U.S. market they will encounter a form of free-for-all. In this way, by denying patents on valuable inventions that are patentable in other countries, U.S. eligibility jurisprudence invites imitators and copyists into the United States while coaxing U.S.-based innovators to focus more on jurisdictions where patents can be obtained and enforced.