A New Emerging U.S. Trade and Technology Policy?

Since the end of WWII, the United States was the leading force globally for free trade. Since the early 1980s, it was also the leading force for laissezfaire economics, promoting the “Washington Consensus” of limited government and free markets, both at home and abroad. That era has ended.The United States now sees itself as in intense competition for high valueadded production with other nations, especially China. And many in both parties now see some kind of national competitiveness strategy, including policies to support advanced industries, as a critical component of U.S. economic policy. This change is not temporary—the result of a particular president in the White House—rather, it is long-term and structural. As such, other nations will need to recalibrate their thinking about U.S. trade and economic policy