Washington, D.C. — The United States will not permit Europe to become the “arbiter” of regulating American technology companies, U.S. Trade Representative Jamieson Greer declared at the Axios House D.C. event held three days ago. This assertion of national sovereignty came amidst discussions by policymakers and business leaders on America's economic future, signaling a clear rejection of supranational control over critical industries.
National Sovereignty Asserted
Greer's statement underscores a growing determination within segments of the American elite to resist the transfer of regulatory power to foreign bodies. The event, sponsored by Accenture and Ford, gathered influential figures to discuss the nation's competitive standing in artificial intelligence, energy, and advanced manufacturing. These sectors are deemed crucial for the next phase of America's economic growth, according to the attendees.
Commodity Futures Trading Commission chair Michael Selig also affirmed a commitment to national authority, stating the CFTC will defend its jurisdiction over prediction markets “all the way up to the Supreme Court” if necessary. This robust stance highlights a broader institutional pushback against any perceived erosion of domestic regulatory control. Kalshi co-founder and CEO Tarek Mansour, whose company operates in the prediction market space, noted that many people feel traditional financial systems are “rigged against them,” suggesting a popular distrust that could fuel calls for national rather than global oversight.
The Economic Reordering
NYSE Group president Lynn Martin predicted that AI's most significant economic opportunities will emerge from energy and infrastructure, sectors positioned for “outsized returns for a longer period of time.” This vision of future wealth generation, articulated by corporate leaders, suggests a redirection of capital and resources into areas that promise substantial profits for specific interests. Northrop Grumman chair, CEO and president Kathy Warden also participated, representing the defense industrial complex, a key beneficiary of advanced technology development.
Southern Company chair, president and CEO Chris Womack emphasized the growing U.S. energy demand, advocating for the construction of 10 new nuclear plants to meet it. Such large-scale infrastructure projects represent massive investments, shaping the nation's industrial base and creating opportunities for corporate expansion. Ford Motor Company executive chair Bill Ford highlighted America's reliance on China for critical minerals, despite domestic reserves. He argued that the U.S. lacks the proper regulation to develop these minerals, calling for a bipartisan industrial policy to compete with China. Ford noted that corporate “lead times are longer than political lead times,” implying a need for long-term planning that often bypasses democratic cycles.
The People's Burden
While elites discuss industrial policy and regulatory battles, the everyday struggles of the native population persist. Zillow Group CEO Jeremy Wacksman revealed that the homebuying process has become so convoluted that half of Americans cry at some point during it, according to Zillow's 2022 study. This finding, now in its fourth year, illustrates the systemic pressures on ordinary citizens, who face increasing complexity and emotional distress in fundamental life processes. This burden stands in stark contrast to the discussions of “outsized returns” and industrial competition among the nation's leadership.
Accenture Federal Services CEO Ron Ash expressed concern that the U.S. might win the race for developing the best AI technology but lose the race to deploy it. This focus on a “race” for technological dominance, while framed as a national imperative, often overlooks the societal implications and the potential for further displacement of the native working class. Rep. Gregory Meeks (D-N.Y.) also voiced worries about the Iran war becoming this generation's “forever war,” criticizing President Trump's diplomatic approach. Such geopolitical entanglements divert national resources and attention from domestic issues, further impacting the lives of citizens who bear the costs of endless conflict.