November 21, 2024

ALI Perspective

The outcome of the election creates a series of challenges for U.S. global economic engagement, including trade, supply chains, digital and AI policies, and foreign assistance.

ALI will remain firm in our principles to promote trade policies that are inclusive and sustainable, advance America’s competitive position, partner with our allies, and continue to oppose isolationist and protectionist policies. We believe that with our allies in Congress, ALI can be an important bridge and play an influential role. ALI will continue to expound these principles acting as a source of expertise and a place for discussion for the broader community.

We were encouraged to see yesterday's introduction of the Prevent Tariff Abuse Act by Reps. DelBene and Beyer together with eight other members. We will encourage our traditional stakeholders to reach across the aisle and find bipartisan solutions and will work with our allies to oppose protectionist tariffs, renew USMCA and reauthorize AGOA, as well as broader issues like managing the U.S. relationship with China and advancing U.S. leadership in digital and AI governance and standards.

We look forward to working with the ALI community to find common ground while maintaining our values.

ICYMI

ALI hosted a robust conversation with Senator Chris Coons and Reps. Don Beyer (D-VA 8) and Lizzie Fletcher (D-TX 7) discussing the post-election foreign policy landscape, and implications for U.S. relations with the Global South and AGOA.

The members expressed concerns about the potential impact of the next Administration’s tariff policies on U.S. global engagement and underscored the need for stakeholders to reiterate the importance of economic engagement as soft power as a key tool in America’s foreign policy toolbox, especially in the Global South.

There was agreement on a number of upcoming initiatives, including expanding the International Development Finance Corporation as it comes up for renewal and the possibility of bipartisan reauthorization of AGOA in the next Congress.

ALI hosted a virtual conversation with senior members of the International Trade Association at the Department of Commerce. The officials discussed how the current status of various initiatives and how they are preparing to transition to the next administration. Topics included diversifying supply chains outside of China, nearshoring opportunities, working with the private sector, dealing with supply chain disruptions, update on the Indo-Pacific Economic Framework, and the Department's New Digital Initiative.

Coming Up

ALI has a full agenda planned as we approach the end of 2024 and transition into the new administration, including:

Dinner Discussion on Post-Election Trade Strategy with Rep. Suzan DelBene (D-WA 1)
Post-Election Working Lunch
Working Groups Convening
Hill Training for incoming staff

What We're Reading

CSIS: Resolving the Emerging Economic Security Trilemma

"The United States is in the midst of a generational Global technology competition continues to gather pace. Earlier this year, U.S. secretary of commerce Gina Raimondo compared the contemporary chips race to the space race of the 1960s: a new Sputnik moment. Indeed, we may be living through five Sputnik moments at the same time across semiconductors, artificial intelligence (AI), quantum computing, climate technologies, and biotechnologies.

New York Times: Trump's Tariffs

"Tariffs can backfire by hurting U.S. manufacturers. American factories use a lot of foreign parts and materials, and tariffs make it more expensive to get these. Trump’s steel and aluminum tariffs, for instance, got U.S. firms to make more metals — but because the price rose, other companies that use metals to make things, like industrial machinery and auto parts, ended up manufacturing less."

Brookings: How is Trump's Reelection Likely to Affect US Foreign Policy

"Trump Republicans have insisted that a second term would see a much more disciplined articulation and implementation of policies—but a key lesson from the first term was that people matter more than policy...The most important lesson from 2017-2021: Trump matters more than anybody else. His impulses decide. Always."

Providing a new vision for American global leadership