Biden’s Next Big Play on Trade

Foreign Affairs: “In 2018, motivated by national security concerns, the Trump administration launched a trade and tech war with China that jolted the entire globalized semiconductor supply chain. The fiasco contributed to the current shortages, hurting American businesses and workers. Now, the Biden administration must pick up the pieces.”

“In its first five months, the Biden administration has laid the groundwork for a more resilient semiconductor supply chain. Discarding the nationalistic policies that got the United States into this mess, the Biden administration has reached agreements at summits with Japan, South Korea, and the European Union to cooperate on a new semiconductor strategy.”

“With their overarching goal now set, Washington and its partners must turn to the hard work of hammering out the details. Only then will they be able to protect their national security and stave off another economic crisis.”