Enhancing Partnerships & Strengthening Trade Competitiveness in the Western Hemisphere

SpeakerS:

Hon. Katherine Tai, U.S. Trade Representative
Nicholas Logothetis, Executive Board Member, Libra Group; Co-Founder & Chairman of the Board, Concordia

Key takeaways & next steps:

  • It is necessary to translate bilateral relationships into hemisphere-wide programs for everyone to collaborate around significant challenges currently facing the economy. 
  • Regionalization is going to be a critical aspect of responding to supply chain issues in order to solve them and to streamline the process going forward, as supply chains currently suffer from vulnerabilities in several areas, such as regional reliance.
  • Key to driving sustainable and durable trade policy is ensuring that there is a broad base of support built around it, which means creating trade policies that are in the interest of all American citizens, despite their partisanship.
  • Renewing the North American Free Trade Agreement (NAFTA) and transforming it into the U.S. – Mexico – Canada Agreement (USMCA) was an important evolution for U.S. trade policy as it includes input from those who benefited under it and those who felt the deal could be made more effective. 
  • The U.S. must invest in itself domestically in order to rebuild institutional systems while maintaining an economic system worldwide that is resilient, sustainable, and inclusive.
  •  

“There is a lot of potential that we need to seize right now to promote this regional integration.”

 

Hon. Katherine Tai, U.S. Trade Representative

“The USMCA has been a well-received agreement and should be a model considered for the future.”

 
Nicholas Logothetis, Executive Board Member, Libra Group; Co-Founder & chairman of the board, Concordia

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