The Wall Street Journal’s Editorial Board writes about Biden’s climate trade war.
- Biden’s Inflation Reduction Act (IRA), which provides subsidies for American made electric vehicles and green power sources, is straining relationships with key allies like France.
- Analysts fear that a trade war may start unless the IRA is rewritten to include concessions for European-made EVs and technologies.
- While bolstering American manufacturing is a worthwhile goal, it should be accomplished by unleashing free trade, not doubling-down on protectionism.
- Furthermore, the administration should implement technology-neutral policies to allow the market to pick winners and losers.
Read the fulla article here.