Experts: U.S. economic diplomacy is more significant than ever

The Bush School is having a special guest speaker next Tuesday give a lecture on the topic.
Published: Apr. 5, 2022 at 6:54 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

COLLEGE STATION, Texas (KBTX) - As the war rages on in Ukraine, a significant and appropriate amount of attention is going to economic diplomacy. Raymond Robertson joined First News at Four to explain the role economic diplomacy is playing in current affairs and to preview an upcoming lecture where the public can learn more. Robertson is the Director of the Mosbacher Institute for Trade, Economics, and Public Policy at Texas A&M’s Bush School of Government and Public Service.

Economic diplomacy is the management of different variables and policies that are focused on economic variables such as trade and financial exchange.

In the situation with Ukraine, the U.S. turned to economic diplomacy first, putting sanctions and other trade controls on Russia.

“We usually like to turn to economic diplomacy first before turning to a more direct military [response],” explained Robertson.

While there are already many sanctions in place, President Biden has announced there could be even more.

According to Robertson, “there’s still a lot of other trade trickling through between our countries, and more importantly, we think about cracking down on trade that Russia has with the rest of the world.”

One example Robertson gave was diamonds. The U.S. may have banned diamond imports from Russia, but most diamonds coming out of Russia don’t come directly to the United States. First they go to India to be finished and polished and cut, and then they are exported from India as Indian diamonds despite their Russian origins.

On Tuesday, April 12, the Mosbacher Institute is inviting the public to attend a lecture diving deeper into this topic. The event will be at the Annenberg Presidential Conference Center. There will be a reception at 5:15 p.m. and the lecture will be from 6:00 to 7:00 p.m.

The ConocoPhillips White House Lecture Series will feature Ambassador Robert B. Zoellick, the 11th President of the World Bank Group and 13th U.S. Trade Representative. Ambassador Zoellick has held a number of positions in the executive branch, including U.S. Trade Representative and Deputy Secretary of State under President George W. Bush and White House Deputy Chief of Staff for President George H. W. Bush. His book America in the World: A History of US Diplomacy and Foreign Policy is an insightful guide to U.S. diplomacy past and present.

Learn more or register for the lecture here.

Watch the full interview in the player above.

Copyright 2022 KBTX. All rights reserved.