Carol Ryan of The Wall Street Journal reports on Europe’s green industrial policy.
- The European Union has launched its Green Industrial Plan which provides generous tax breaks to European-made green energy technologies.
- The launch of this plan is partially a response to the provisions of the Inflation Reduction Act that prioritize American manufacturing and industry.
- While American manufacturing and industry are important, the sector’s growth should come as a result of free trade, open markets, and work with allies.
- Protectionist policies could lead to a green trade war that would hurt consumers and the planet.
Read the full article here.