At the "Trade Over Aid" forum held in New York on Monday, July 14, 2026, Ambassador Mike Waltz, the U.S. permanent representative to the United Nations, detailed the Trump administration's new approach to foreign aid. The administration is moving away from taxpayer-funded assistance programs toward private-sector-led development, emphasizing private investment, trade, and American business as engines for global growth.

"For too many years, the United States and other countries have poured billions and billions of dollars into these aid programs and got very little in return," Waltz said. He criticized traditional aid forums for lacking private sector involvement, stating, "You find NGOs and academics and governments, but you don’t find the creators of growth and the creators of jobs."

The new model aims to "create jobs, to create business for American companies in line with America First," while also improving living standards abroad and reducing instability that can fuel terrorism and poverty. Waltz confirmed that USAID’s functions have been integrated into the State Department as part of broader efficiency efforts but emphasized that the initiative extends beyond any single agency.

Czech Environment Minister Igor Cerveny, attending the forum, noted that the approach resonated with his country’s post-communist experience. Additionally, a U.S. official named Negrea highlighted the need to rethink aid strategies given the United States' indebtedness and the unsustainability of previous spending levels.

The Trump administration moved to dismantle USAID in 2025, citing inefficiency and disconnection from U.S. foreign policy as reasons for the change.

Sources