Why It Matters We’ve Been Looking At Trade All Wrong
Mar 19, 2025
Edward Alden, a senior fellow specializing in U.S. economic competitiveness and trade, dives into the evolution of trade and its growing significance beyond mere goods exchange. He explores how trade has reshaped foreign policy and national security dynamics, and the consequences of U.S. nationalism on global norms. Alden discusses the cost implications of a return to domestic manufacturing and highlights the vulnerabilities of global supply chains exposed by the pandemic, ultimately illustrating how trade policy impacts economic stability and global relations.
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Trade's Importance
- Trade is about consumption and where goods come from in our globalized world.
- It impacts international relations and peace.
Shifting Trade Norms
- The US historically favored stable, open trade, integrating more nations into the system.
- This system is now being challenged, with the US seeking to rewrite the rules.
Presidential Consensus on Trade
- From Roosevelt to pre-Trump, US presidents generally supported open trade.
- They saw it as beneficial for US companies, consumers, and global standing.