The Trump administration's America First investment pledges

The Trump administration portrays its America First investment initiative as proof that US economic, military, and diplomatic leverage can be turned into financial gains, correcting what it calls "unbalanced" relationships with allies. Often an explicit quid pro quo for tariff relief, the White House has announced more than $5 trillion in investment pledges from partner governments, including dozens of projects in strategic sectors. But these unprecedented deals raise key questions: How are they structured and enforced? Can partners realistically finance their commitments? And which parts of the US economy stand to benefit? Drawing on their new PIIE Policy Brief, Gregory Auclair and Adnan Mazarei discuss what these agreements could mean for the United States and the global economy. Kathleen Claussen comments on the legal and institutional aspects of the investment "program"—what is the significance of having these deals done in the form of executive agreements? What are the legal levers, impediments, and risks to implementation?

MODERATOR

Anna Gelpern
Nonresident Senior Fellow, PIIE

SPEAKERS

Gregory Auclair
Statistician and Quality Control Coordinator, PIIE

Kathleen Claussen
Professor of Law, Anne Fleming Research Professor, Georgetown Law

Adnan Mazarei
Nonresident Senior Fellow, PIIE