“As we focus on economic devastation at home, we should remember that similar impacts are also being felt across the globe. California and the Bay Area are deeply tied to economies around the world that buy much of the technology, goods and services that we produce. Close to 5 million jobs across the state are directly  or indirectly tied to trade in manufactured products, logistics, warehousing, agriculture, and a wide range of services.

A global economic retreat will seriously impact the California and the United States. The U.S. and its trading partners entered the COVID-19 recession with burdensome tariffs, an array of trade conflicts, and a frayed global system for addressing them. If we want to restore growth and achieve a strong recovery this is something we can no longer afford. As the US and other economies start to reopen and industries receive focused support, trade needs attention too. The attached column, which can also be accessed on the Economic Institute’s website  http://www.bayareaeconomy.org/rescue-trade/ explains why.”

Sean Radalph,

Senior Director

BAYAREA COUNCIL ECONOMIC INSTITUTE