“America is back. The transatlantic alliance is back,” remarked President Joe Biden shortly after he took office. After inheriting the legacy of the Trump administration’s unilateral trade policy that led to transatlantic tensions, President Biden wants to re-engage the United States’ key allies, particularly the European Union, and re-commit to multilateralism. In mid-June this year, President Biden traveled to Brussels during his first overseas trip to participate in a US-EU Summit.
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The COVID-19 pandemic has shocked the global economy, and also likely altered the global trading system for good.
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