Geoeconomic Strategy: Bidenomics, Trump's “One Big Beautiful Bill,” and the Global Political Economy

This article examines the resurgence of industrial policy in the United States as a tool of geoeconomic strategy, focusing on the contrasting approaches of the Biden and Trump administrations. Under “Bidenomics,” the US government embraced a modern industrial strategy centered on large‐scale public investment in high‐technology and clean‐energy industries, domestic content requirements, and selective decoupling from rival powers. By contrast, President Trump's Liberation Day Tariffs applied against most countries, and the “One Big Beautiful Bill” (BBB) and related policies prioritized tax increases (via tariff hikes, tax cuts, deregulation, traditional energy, and trade protectionism) in the name of “America First.” Both approaches represent contrasting breaks with decades of neoliberal free‐market consensus, using state intervention in the economy to pursue national objectives. The analysis situates these policy shifts within the literature on industrial policy and geoeconomics, comparing their domestic aims, policy tools, and ideological underpinnings. It also explores the global political‐economic implications. While differing in methods and rhetoric, Biden's and Trump's strategies each illustrate how economic policy is increasingly leveraged for potential geopolitical advantage in an era of renewed great‐power rivalry.