A collaboration between the Konrad Adenauer Stiftung - Geneva and the Wilson Center's Wahba Institute on the margins of the WTO Public Forum.

Panel co-sponsored by the Wahba Institute and Konrad-Adenauer-Stiftung.

With the European Union proceeding with a Carbon Border Adjustment Mechanism (CBAM), the Wilson Center's Wahba Institute in partnership with Konrad-Adenauer-Stiftung engaged with seven US House / Senate offices to explore how US CBAM proposals compare and contrast.

Moderated discussion on trade with Senator Toomey on the state of global trade.

“Now is not the time for sliding down slippery slopes in a race to the protectionist bottom. Rather than shards of truths, today’s strategic competition demands a clear-eyed view and dedicated effort to open markets for American products and services so that all workers not only prosper, but remain secure.”

Technology restrictions only succeed in tandem with other advanced economies. As restrictions bifurcate markets, America will lose foreign consumers unless it embraces trade.

“There has not been a broad-based decoupling … and many economists are seeing that there really hasn't been a significant onshoring or reshoring. There are still strong ties, and to break those ties with China would be both difficult and costly.”

"Finding the right balance between markets and intervention is key. Close collaboration with allies is also vital. America faces a peer rival: China. Only in tandem with its allies can the US achieve the scale to sustain the international order and deter aggression."

"The result of America's inward turn is to step aside as other nations negotiate preferential access and define the terms to trade, sacrificing the jobs that go with that trade and the influence that comes from the associated interactions. Perhaps no other nation has benefited more from America's trade resistance than China."

Narrowing in to understand the trade relationships between China and strategic sectors in the Western Hemisphere should be a fundamental task for [the China select] committee and the 118th Congress to undertake. Ideally, this would lead to actionable results providing tangible economic opportunities for the U.S. and its partners in the region.

“It will be interesting to see what the final Treasury regulations are able to do, but many believe this is going to require a legislative fix,” Kennedy said. “The accommodations that are so far in the Treasury ruling are not of great significance related to the concerns the European community has.” Kennedy argued that Washington should have negotiated with all its major industrial partners before passing such a sweeping piece of legislation. “Climate concern is a global concern,” he added. “Having a more coordinated approach to it, as opposed to something that moves down a protectionist path, is more likely to achieve the climate objectives in an efficient manner.”

As Founder and Chairman Emeritus of the Economic Club of Minnesota, I helped establish the Bill Frenzel Champion of Free Trade Award to promote the importance of expanded trade.

"As the most significant player in the digital space, America has the most to gain or lose, but ironically, at exactly the worse time to do so, we opted to sit on the sidelines and complain as we continue to watch the rest of the world define the rules for us.