What were the major developments in US trade policy in 2021?

2021 was a significant year for US trade policy. The Biden administration sought to reverse the policies of its predecessor and establish a new framework of trade relations with its partners. Some of the major developments in US trade policy in 2021 include:

• Rejoining the Paris Agreement: The US rejoined the Paris Agreement on Climate Change, signaling a renewed commitment to addressing global environmental concerns through international cooperation.
• Negotiating with China: The US and China engaged in talks to address trade disputes such as those regarding intellectual property theft and tariffs on both sides.
• Reviewing Cuba Policy: The Biden administration announced that it would review US policy towards Cuba, signaling a possible lifting of sanctions and a return to Obama-era policies.
• Renegotiating NAFTA: The US, Canada, and Mexico renegotiated NAFTA and the resulting USMCA entered into force on July 1, 2020.

These developments represent a shift towards multilateralism and promoting trade relations based on cooperation and mutual benefit.