 The Biden administration is re-engaging in some trade areas and has sought to improve relations with allies…  …but US-China trade tensions persist and the bulk of tariffs remains in place  We take a look at the administration’s approach to eight key US trade policy issues Some shifts, some stability It has been seven months since President Joe Biden took office and, as widely expected, the Biden administration’s approach to key trade policy issues has not changed drastically compared to the previous four years. The US continues to take a tough line when it comes to trade relations with mainland China and bilateral tensions show no signs of easing anytime soon.

On the other hand, the Biden administration is working more closely with European partners and recently agreed a truce over the long-standing Boeing-Airbus dispute with the EU and UK. It is also focussed on tackling environmental issues via trade policy and is engaging more in global tax negotiations and at the World Trade Organization (WTO), although it has been cautious about signalling full-blown support for the multilateral trading system.

In this report we take stock of eight key US trade policy issues and the Biden administration’s approach to each: 1. US-China trade relations 2. Supply chains 3. Implementation of the United States-Mexico-Canada Agreement (USMCA) 4. Trade relations with allies 5. New US trade deals 6. Tech taxes 7. Approach to the WTO 8. Trade and the environment