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The American Plan

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The American Plan
Freshly printed $20 notes are processed for bundling and packaging at the U.S. Treasury's Bureau of Engraving and Printing in Washington on July 20, 2018. Eva Hawbach/AFP via Getty Images
Clyde Prestowitz
Updated:
Commentary

Missing from U.S. Trade Representative Katherine Tai’s recent statement on the Biden administration’s new U.S. trade policy was any mention of the country’s single most important trade problem—the annual U.S. trade deficit.

Clyde Prestowitz
Clyde Prestowitz
Author
Clyde Prestowitz is an Asia and globalization expert, a veteran U.S. trade negotiator, and presidential adviser. He was the leader of the first U.S. trade mission to China in 1982 and has served as an adviser to Presidents Reagan, George H.W. Bush, Clinton, and Obama. As counselor to the secretary of commerce in the Reagan administration, Prestowitz headed negotiations with Japan, South Korea, and China. His newest book is "The World Turned Upside Down: America, China, and the Struggle for Global Leadership," which was published in January 2021.
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