The United States President, Joe Biden has signed a Presidential Memorandum establishing the Economic Diplomacy Action Group (EDAG), a new government initiative aimed to strengthen US commercial diplomacy on the global stage and expand economic prosperity at home, supporting American workers and creating jobs.

This was disclosed in a statement released by the Spokesperson, Office of Commercial and Business Affairs on June 24, 2024. The statement further stated that the initiative will ensure US foreign policy continues to create opportunities for American businesses globally and attract foreign investment into the country.

It added that EDAG will advance US economic priorities, including supply chain resilience, and deepen her shared prosperity with allies and partners. It stated that the formation of the EDAG was prompted by the Championing American Business Through Diplomacy Act of 2019, passed to bolster US commercial competitiveness by strengthening US government support of U.S. private sector interest internationally.

The statement reads in part: “President Biden signed a Presidential Memorandum establishing the Economic Diplomacy Action Group (EDAG), a new whole-of-government initiative to strengthen U.S. commercial diplomacy on the global stage and expand economic prosperity at home, supporting American workers and creating jobs.

“The EDAG will ensure our foreign policy continues to create opportunities for American businesses globally and attract foreign investment into the United States in sectors vital to U.S. national security. The EDAG will advance U.S. economic priorities, including supply chain resilience, and deepen our shared prosperity with allies and partners. To advance its mission to promote U.S. exports, the EDAG will also create a trade expansion advisory committee with selected representatives from the private sector, labor, and other organizations to provide comment and advice.”

It added, “The formation of the EDAG stems from the Championing American Business Through Diplomacy Act of 2019, passed to bolster US commercial competitiveness by strengthening U.S. government support of U.S. private sector interests internationally. The Secretary of State will chair the EDAG, in close consultation with the Secretary of Commerce and the U.S. Trade Representative.”

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