Friend-shoring: what Biden wants to achieve by trading with allies rather than rivals
trade-wars
Mexico and Canada have overtaken China as America’s top trading partners as Biden’s friend-shoring strategy reshapes US trade — but the long-run payoff is uncertain.
The Biden administration’s tilt toward trading with allies rather than geopolitical rivals has already changed the map: Mexico and Canada have overtaken China as the United States’ largest trading partners. Friend-shoring is presented as a new doctrine, but this piece places it in a much longer tradition of trade policy used for political ends, from Cold War-era sanctions to today’s CHIPS Act — and cautions that the strategy carries real economic trade-offs, with short-term competitive gains that may not translate into lasting benefit.
Originally published on The Conversation, March 20, 2024.