U.S. and Allies to Build Trade Corridor Rival to China's BRI

The U.S. and its allies plan to build new trade infrastructure to match a new geopolitical environment. The Wall Street Journal reports that Washington and partners in Europe, the Middle East and Asia are completing plans to build a trade corridor linking the regions, a massive initiative that could threaten the domination of China’s extensive belt and road initiative (BRI, launched in 2013 by President Xi Jinping, and originally devised to link East Asia and Europe through physical infrastructure. In the decade since, the project has expanded to Africa, Oceania, and Latin America. 

The new U.S.-led trade corridor would connect Saudi Arabia, the United Arab Emirates and potentially Israel by freight rail, then use sea transport to reach India and Europe. 

The U.S. and its European partners have stepped up plans to finance global infrastructure projects in a bid to counter China doing the same. Beijing’s overseas ambitions for that $1 trillion rail, road and ports plan have been fading more recently. 

The new U.S. effort would see all signatories committing to financing, but the details won’t be announced for several months.