White House pitches America First 2.0
June 24, 2021
(Reuters) Competing sometimes means copying. U.S. President Joe Biden’s top economic aide, Brian Deese, said on Wednesday that the government needs to play a bigger role in supporting certain technologies and industries. That’s taking a leaf out of China’s playbook and a more organized version of former President Donald Trump’s America First policy .
Deese said the pandemic was a wake-up call to make more products at home. For example, hospitals were short of protective gear because such goods are mainly made in China. At an Atlantic Council event, he also noted that almost 90% of facilities to make ingredients for generic drugs are located overseas, an issue highlighted in the White House’s recent supply-chain review.
The move toward a more government-directed economy is not new. But while Trump’s approach was chaotic, Biden’s take is more structured. And it helps that Congress is on board. The Senate recently passed a bill to spend $250 billion on research and development to better compete with the People’s Republic . Bipartisan support means Uncle Sam will be relying less on the invisible hand.
To Read More: https://www.reuters.com/breakingviews/white-house-pitches-america-first-20-2021-06-23/
Do You Need Customs Brokerage Help? You can contact us at info@tradelogicintl.com
Recent Posts
See AllThe owner of a U.S. based import business faces a maximum penalty of five years in prison, a $250,000 fine, a three-year term of supervised release, and a payment of $1,090,000 in restitution. The imp
To help you keep up to date on topics the impact the U.S. international trade community, be sure to read my latest newsletter and subscribe for future updates too. https://www.linkedin.com/posts/trade
Unless Congress acts quickly, the duty exclusions currently in place for certain products imported from China are set to expire on Dec. 31st. Importers who currently enjoy these exclusions on their pr