2023.05.09

• Economic Security

IOG Economic Intelligence Report (Vol. 2 No.8)

The New Washington Consensus: U.S. National Security Advisor Jake Sullivan delivered an address on U.S. international economic strategy at the Brookings Institution in Washington, DC on April 27. In his speech, he expressed skepticism about further liberalization, particularly in terms of reducing tariffs, and towards international economic integration. In response, he offered a defense of the Inflation Reduction Act and of industrial policy in general, while also emphasizing cooperation with U.S. partners. His speech is discussed in further detail in the analysis below. Ambassador Tai Visits Japan:U.S. Trade Representative Katherine Tai met with Nishimura Yasutoshi, minister of Japan’s Ministry of Economy, Trade, and Industry in Tokyo on April 19. At their meeting, they signed the U.S.-Japan Critical Minerals Agreement, a moratorium stating that electric vehicles manufactured in the United States