For better or worse, Joe Biden’s economic agenda has translated Donald Trump’s inchoate ramblings about deglobalization into coherent policy. EricLevitz writes
that their country simply “can’t afford to go dollar-for-dollar with the U.S.” in subsidizing nascent green firms and technologies. What’s more, the fact that America’s approach to green industrial policy does not include carbon taxes — while Canada’s does — undermines the latter nation’s heavy industry.
Meanwhile, like Trump, Biden has waged a trade war against China unilaterally and in defiance of many U.S. allies’ wishes. Unlike Trump, however, Biden has not merely imposed tariffs on some Chinese goods or export controls against select Chinese companies. Rather, the Biden administration has sought to
, White House national security adviser Jake Sullivan declared that America’s “comparative advantage” in the global economy “must be renewed, revitalized, and stewarded.” In the realm of key emerging technologies, Sullivan argued that the United States could not settle for a “relative” advantage over its competitors, but “must maintain as large of a lead as possible.”
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