Policy decision-making that supports economic recovery
In response to economic challenges generated by COVID-19, the Bureau of Economic and Business Affairs created a dynamic Global Economic Activity and Recovery (GEAR) strategy. Our mission is to maintain U.S. economic presence and influence globally. This will be accomplished by using data and evidence-based analysis of the economic impact of COVID-19 to inform policy decision-making supporting economic recovery. GEAR is designed to ensure America’s economic well-being while simultaneously countering our strategic competitors.
GEAR is also designed to be cross-cutting and support existing lines of effort, such as our campaign urging governments to exclude untrustworthy vendors from their 5G efforts and women’s economic empowerment.
A coordinated and dynamic strategy
Recovering pre-COVID momentum on global economic growth is essential, and a coordinated effort will be key. To that end, private sector engagement will be central to GEAR implementation. The GEAR strategy is outlined in five key themes that touch on top priorities for the COVID-19 economic recovery:
- Restoring international transportation and travel networks
- Diversifying critical supply chains
- Supporting U.S. business and promoting U.S. exports
- Deploying financial tools for economic recovery
- Enabling food trade and security
The United States is GEARing up to lead economic recovery and growth. This dynamic strategy will pave the way.