Government and regulatory affairs partner Matt Levy authored an article for the Indianapolis Business Journal titled “Biden Administration Likely to Chart New Course on Trade Policy,” that provides insight about how President Biden’s approach to global trade policies are expected to differ from both his Republican and Democratic predecessors.
In the article, Levy discusses how the Biden administration has said they will seek to boost U.S. competitiveness by focusing on domestic priorities, which is similar to Trump’s “America First” policy; however, President Biden’s methods will likely differ. Levy notes that the government’s approach will include investing in clean energy and infrastructure, strengthening skill sets for U.S. workers, and prioritizing procurement of U.S.-made goods under more stringent “Buy America” policies.
The article also addresses possible challenges the President’s trade agenda may face, like competing with more urgent matters such as COVID-19, the economy, climate change and infrastructure.
“Given the competing priorities of the Biden Administration, U.S. businesses may have to wait for significant changes to U.S. trade policy. Until then, we can expect most tariffs to remain in place, the U.S. to maintain its defensive posture toward China, and for U.S. domestic production to be the focal point,” explained Levy.
The full article is available for Indianapolis Business Journal subscribers.