Senator Todd Young Advocates for a National Economic Security Strategy

Digital Trade and Data Flows

• 💡 The global economy is increasingly driven by cross-border data flows, digital services, and online platforms.
• 📌 US firms face foreign barriers like data localization rules and discriminatory digital taxes.
• 🤝 The ITA's role in digital trade is evolving, with priorities on open digital markets and cross-border data flows.
• 🇪🇺 Programs like the Cross-border Privacy Rules (CBPR) and the US-EU data privacy framework are foundational for allowing free flow of personal data.

Combating China's Predatory Practices

• ⚠️ China's predatory practices in sectors like steel, critical minerals, and advanced manufacturing pressure US companies.
• 🗺️ ITA's Industry and Analysis division tracks these barriers and advises on market access.
• ⛏️ A concrete example is mapping critical mineral supply chains, focusing on processing and refining where China dominates.
• 🤝 The goal is to understand and secure these supply chains to protect downstream sectors.

Need for a National Economic Security Strategy

• 🇺🇸 Senator Young advocates for a 'national economic security strategy' analogous to the national defense strategy.
• 🔗 A subset of this would be a strategy for critical mineral resilience and sourcing.
• 🏛️ Such a strategy should aim for consensus and endure beyond a single administration.
• 🤝 The ITA would likely play a supporting role in developing such a strategy if it were White House-led.