What about medicines as it will reduce profits for the pharma corporations?
Good question.
I did say “legal goods” and our patent laws should be applied to pharmaceutical drugs in a way that allows developers of new drugs to earn a profit on the research and development costs.
Trading in knockoffs of those patent-protected products would still be illegal. In the same way, you couldn’t sell Chinese versions of US copyrighted books or music.
Free trade does not mean all laws regarding copyright protection are invalidated.