August 30, 2023
As China Tensions Bubble, a New Economic Weapon of Choice Has Emerged
U.S. Commerce Secretary Gina Raimondo’s trip to China this week underscores an important shift in how Washington is engaging with the world. After decades of U.S. policy aimed at ensuring open market access, “de-risking” the U.S. economy from China has become the animating principle of Congress and the White House. The U.S. government’s economic tools of coercion are evolving to effect this outcome, from a historic reliance on sanctions to a new economic weapon of choice: export controls.
The Russia export restrictions epitomize the highs and lows of this new regime.
The shift is not academic. Export controls were traditionally important mainly to providers of defense components that were deemed “dual use,” or valuable for both civilian and military applications. Now, export controls will impact a vast new set of companies. Businesses will need to overhaul their Washington engagement strategies to navigate this new dynamic.
Read the full article from Barron's.
More from CNAS
-
Could There Be a Way to Make Economic Sanctions More Mission Oriented?
Podcast
One of the main tools foreign policy leaders have to exert pressure on other governments is through the use of economic tools. Sanctions, export controls, investment restricti...
By Lt Col Mary Hossier
-
Boosting Economic Security Collaboration Among G7 Economies and like-Minded Allies
Commentary
Emily Kilcrease, senior fellow and director of the CNAS energy, economics, and security program, and Geoff Gertz, senior fellow, participated in the T7, the official engagemen...
By Emily Kilcrease & Geoffrey Gertz
-
Ducking Climate Science Is a Danger to the U.S. Military. Congress Must Help.
Commentary
This article was originally published in Breaking Defense. The Trump Administration’s recent decision to revoke the EPA “endangerment finding” is emblematic of a trend in Amer...
By Will Rogers
-
CNAS Insights | Trump's Plan B for Tariffs
Commentary
The administration is already pivoting to a new tariff architecture that will mostly, though not entirely, recreate his previous tariffs....
By Geoffrey Gertz
