For the last four years the United States has pursued a trade policy based on the Trump administration’s concept of “America First,” raising tensions with U.S. allies and other countries. Under the Trump administration, the WTO dispute settlement mechanism came to a halt and the United States began a trade war against China. In the case of South Korea, the KORUS FTA was renegotiated and South Korea accepted quotas on its exports of steel to the United States. With the election of former Vice President Joseph Biden as president there will be a shift in U.S. trade policy, but some issues such as the functioning of the WTO dispute settlement mechanism and China’s trade practices predate the Trump administration.
Please join us for a discussion of how the incoming Biden administration might address international trade and how the U.S.-Korea trade relationship may change with the new administration.