U.S. economic security policy and economic statecraft once operated in parallel with minimal friction. That separation has broken down. The authors trace the breakdown through five phases of U.S. policy since 2001—from post-September 11, 2001, counterterrorism finance to the 2025 International Emergency Economic Powers Act tariffs—and propose four principles for policymakers: clarity of purpose, economic soundness, legitimacy, and sustainability.
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