Oct 12, 2023 - Economy

Biden official: No more trade liberalization for its own sake

Javier E. David

Catherine Tai and Hope King on stage at Axios' BFD — Steven Duarte/Axios

The Biden administration aims to promote "a different set of goals" with its trade policy, with an emphasis on engagement and supply chain resilience, U.S. Trade Ambassador Katherine Tai said at Thursday's Axios BFD.

Driving the news: Protectionism and widening geopolitical conflicts — such as this weekend's attack on Israel from forces within Gaza — are fracturing alliances and putting new strains on the post-pandemic global economy.

Meanwhile, the U.S.-China bilateral relationship is at an ebb, although officials continue to engage with one another.

What they're saying: "The world it feels like keeps getting more and more complex," Tai told Axios' Hope King on the BFD main stage.

"We feel an incredible sense of responsibility to navigate US trade policy in a way that promotes resilience for our economy, sustainability and inclusivity. And I think that what we've seen this weekend reinforces for me that those are the goals."

Of note: Tai insisted that with more economies, including the United States, grappling with domestic challenges and protectionism, "the goal is no longer to liberalize for liberalization's sake."

She also pushed for a focus on resilience in supply chains that were jolted by COVID-19. "We have to prepare ourselves to navigate that volatility, and be as strong as we can. And that's the focus on resilience," Tai said.

Go deeper: Watch live: Axios BFD featuring key leaders in business and tech

Add Axios on Google

Biden official: No more trade liberalization for its own sake

What to read next