New Report Calls for National Industrial Strategy to Strengthen U.S. Industries that are ‘Too Critical to Fail’
A new report by the Information Technology and Innovation Foundation (ITIF) urges the U.S. government to develop a national industrial strategy to strengthen the competitive position of advanced, traded-sector industries that are “too critical to fail.”
"Even before this pandemic, China posed an unprecedented competitiveness challenge in the advanced industries that are most critical to America’s economic wellbeing and national security. As Congress considers further stimulus in response to the coronavirus crisis, it should include actions that will not only spur short-term recovery, but also ensure long-term competitive and economic resilience,” said ITIF President Robert D. Atkinson, who authored the report. “America needs a robust domestic industrial strategy — and it can’t be limited to generic policies that support ‘factor inputs’ like science, education, and infrastructure. We need to fortify the country’s most invaluable and irreplaceable industries.”