Industry News

President Biden Releases 2021 Trade Agenda

 

The Office of the United States Trade Representative on March 1 delivered President Biden’s 2021 Trade Agenda and 2020 Annual Report to Congress, outlining a comprehensive trade policy in support of the new administration’s effort to help the U.S. economy recover from the COVID-19 pandemic.

President Biden’s trade priorities include:

  • Increasing vaccine production and distribution so that every American can be vaccinated as soon as possible and supporting a resilient supply chain for equipment and supplies critical to public health.
  • Implementing trade policy that benefits the U.S. labor force and improves the country’s economy.
  • Working with trade partners worldwide to improve the environment.
  • Advancing racial equity and supporting underserved communities.
  • Addressing China’s trade practices through a “comprehensive strategy.”
  • Partnering with trade partners and other allies.
  • Promoting a trade agenda that benefits America’s farmers, ranchers, food manufacturers, and fisheries.
  • Pursuing strong trade enforcement to ensure that trade partners “live up to their commitments” in trade agreements.

Through bilateral and multilateral engagement, the Biden administration said it will “seek to build consensus around trade policies that address the climate crisis, bolster sustainable renewable energy supply chains, level the playing field, discourage regulatory arbitrage, and foster innovation and creativity.”

The 308-page report can be viewed here.

A fact sheet outlining key highlights of the report is available here.

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