"Next Year's US Trade Policy Focuses on 'Supply Chain' and 'Indo-Pacific'"

Trade Association Hosts 2022 US Trade Policy Outlook Conference

Kenneth Levinson, Executive Director of the Washington International Trade Association (WITA), is chairing the panel discussion at the "2022 U.S. Trade Policy Outlook International Conference" hosted by the Korea International Trade Association on the 2nd.

[Asia Economy Reporter Lee Hye-young] The Korea International Trade Association (KITA) announced on the 2nd that it held the "2022 U.S. Trade Policy Outlook International Conference" via video conference.

The conference was attended by attorney Stacy Ettinger, former legal and policy advisor at the U.S. Department of Commerce; Barbara Tyran, director of the U.S. Renewable Energy Council; and Alex Perkins, managing partner of Melman Castateni Rosen & Thomas law firm, among others, who discussed next year's U.S. trade environment, green policy directions, and political situation.

Attorney Stacy Ettinger forecasted the future U.S. trade policy, stating, "The U.S. is focusing on the Indo-Pacific region to resolve the current supply chain issues," and added, "To strengthen containment of China, efforts will be made to rebuild relationships focused on supply chain cooperation with trade partners including allies such as Korea, the European Union (EU), and Japan."

Director Barbara Tyran emphasized the U.S. green policy direction, saying, "The U.S. is expanding renewable energy facilities such as offshore wind power and is actively promoting transmission network construction projects to supply renewable energy to major industries," and added, "There will be many opportunities for Korea-U.S. cooperation in the clean energy sector to achieve the shared goal of carbon neutrality."

Managing partner Alex Perkins commented on the U.S. political situation ahead of the midterm elections, stating, "Traditionally, U.S. midterm elections are unfavorable to the ruling party," and predicted, "Due to issues such as the supply chain crisis, COVID-19, and internal conflicts within the Democratic Party, control of the Senate and House is likely to shift to the Republican Party, weakening the Biden administration's momentum in advancing trade and environmental policies."

Park Cheon-il, president of KITA's International Trade and Commerce Research Institute, anticipated, "The Biden administration's actions entering its second year in office next year will have a significant impact not only on the U.S. domestic economy but also on the global trade environment." He added, "The association will promptly provide Korean companies with updates on changes in the Biden administration's Indo-Pacific policy and green infrastructure investment policies through reports and seminars."

The conference video, broadcast live via YouTube, can be viewed again on KITA's YouTube channel (youtube.com/c/Yeongdongdaero511).