Post-Election Analysis 2020: Trade

Key Takeaways

• President-elect Biden will focus on domestic issues early in his presidency. Efforts to incentivize companies to reshore or move manufacturing to the United States may prove to be one area where the White House can work with a split Congress.
• Domestically, President-elect Biden is unlikely to remove President Trump's Section 232 or 301 tariffs in the near term, but the administration may be open to reforms to the exclusions process.
• Internationally, President-elect Biden will remain tough on China and use export controls and sanctions prominently to address national security concerns, while looking for ways to address China's unfair trade and economic practices through multilateral collaboration.