Economic Diplomacy and America's Economic Revival
By DipNote Bloggers on June 19, 2018
Secretary of State Mike Pompeo outlined his vision of the State Department's role in America's economic revival through a broad-ranging policy speech at the Detroit Economic Club on June 18, 2018. "Economic diplomacy has always been central, when done right, to the State Department’s mission," Secretary Pompeo emphasized.
.@SecPompeo at @deteconomicclub: Economic diplomacy means we use American economic power and influence as a tool of foreign policy to benefit Americans. We build relationships that create jobs, sustain American businesses, and spur economic growth. pic.twitter.com/exy3pP34LF
— Department of State (@StateDept) June 18, 2018
The Secretary highlighted economic diplomacy's role in President Donald J. Trump's National Security Strategy.
Economic security is national security. Making sure American businesses can do what they do best in the international arena is critical for stimulating the prosperity that undergirds our security & freedoms. pic.twitter.com/d5OCYJfw3I
— Secretary Pompeo (@SecPompeo) June 18, 2018
Secretary Pompeo also highlighted a number of ways that the State Department engages in economic diplomacy.
"First, we’re working to maintain American sovereignty on the world economic scene. If the U.S. Government does not participate in robust international economic engagement, we will lose out to places like China. But we can never lose our economic sovereignty in doing so."
"Second, the State Department has a primary responsibility ensuring markets are open."
- Secretary Pompeo
.@SecPompeo at @deteconomicclub: We are creating as many markets as possible for American goods and services. If it is an American product, we want to gain access for it in as many markets as possible. If Americans have market access, we will out-compete our foreign rivals. pic.twitter.com/PUkAbtV9oh
— Department of State (@StateDept) June 18, 2018
"Third, we’re working hard to attract international investment here in the United States."
"Fourth, we’ll capitalize on Americans’ abundant energy resources."
- Secretary Pompeo
Secretary Pompeo continued by addressing some of the foreign practices that harm America. "Whether that’s threatening our technology leadership through intellectual property theft or forced technology transfer, we are hard at ensuring that we protect American property," the Secretary said.
.@SecPompeo at @deteconomicclub: We are taking a hard line on practices that threaten America’s technology leadership, such as intellectual property theft and forced technology transfer. pic.twitter.com/WXFBhweRf1
— Department of State (@StateDept) June 18, 2018
Secretary Pompeo's remarks also addressed President Trump’s decisions with respect to tariffs and trade agreements.
"If you look around, there have been those that have criticized some of the tariffs. But just ask yourself: Would China have allowed America to do to it what China has done to America?"
"Let’s be clear: It [China] is the most predatory economic government that operates against the rest of the world today. This is a problem that is long overdue in being tackled."
- Secretary Pompeo
Our diplomacy puts the American worker first through the pursuit of fair and reciprocal trade deals. @POTUS initiated a nationwide conversation about the United States’ asymmetric trade relationships. pic.twitter.com/4cwnIy39sP
— Secretary Pompeo (@SecPompeo) June 18, 2018
Editor’s Note: This entry also appears in the U.S. Department of State’s publication on Medium.