President Biden is reshaping the U.S. approach to trade policy to focus on the needs of Americans as workers rather than consumers, breaking with 30 years of trade policy.
Biden’s approach rejects the trade liberalization doctrine that held sway for nearly three decades after the Cold War’s end. Trade rose from 19 percent of the U.S. economy in 1989, the year the Berlin Wall collapsed, to a peak of 31 percent in 2011, according to
That investment may translate into future hiring. But manufacturing employment has been in a steady decline for decades as automation makes it possible to produce more goods with fewer workers. Today’s 13 million-person factory workforce is unchanged since January and up just a sliver from the 12.8 million toiling on assembly lines on the eve of the pandemic.Manufacturing accounts for just 8.3 percent of total employment, down from 8.6 percent when Biden was inaugurated.
. Those “framework” deals would coordinate allied supply chains and set standards for doing business without offering U.S. trading partners greater access to the world’s largest economy.The administration announced progress toward an Indo-Pacific deal in May, which immediately drew complaints from 30 business organizations including the Chamber of Commerce and Business Roundtable.
In the survey this month, 66 percent of respondents said they were more likely to back a presidential candidate in 2024 who favored “additional tariffs on Chinese imports.” Nearly seven out of 10 favor placing supply chains in friendly nations rather than focusing on cost alone in choosing suppliers, according to a November 2022 survey by the Chicago Council on Global Affairs.
“Trump’s whole policy was a policy of victimization: ‘Foreigners are taking advantage of Americans.’ Biden doesn’t spend all his time blaming the foreigners. He promotes multilateral cooperation,” said William Reinsch, a trade specialist at the Center for Strategic and International Studies.
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