Thread by @toddntucker

NEW @ForeignAffairs from @FeliciaWongRI and me:

A Tale of Two Industrial Policies:

How America and Europe Can Turn Trade Tensions Into Climate Progress
foreignaffairs.com/united-states/…

This year's World Economic Forum in Davos, Switzerland turned at times into a freeform airing of grievances by EU lawmakers over Biden's Inflation Reduction Act and the impact it could have on EU producers.
politico.com/news/2023/01/1…

But it also revealed the makings of a more productive race-to-the-top dynamic, with the European Commission outlining its own take on the IRA.
ec.europa.eu/commission/pre…

It's a welcome turn. Joe Biden announced his intention in 2019 to take on board parts of the Green New Deal, which itself was developed in response to the failure in Europe of carbon pricing and other market-oriented approaches to the climate crisis.
washingtonpost.com/climate-enviro…

In 2020, Biden unveiled the Build Back Better agenda, which crystallized this pivot towards a carrots-first through an embrace of domestic industrial policy.
joebiden.com/made-in-americ…

Biden's policies reflected a shifting paradigm in US politics that aspired to combat authoritarianism by moving past neoliberalism onto a more inclusive and sustainable path, as @FeliciaWongRI wrote @DemJournal.
democracyjournal.org/magazine/64/ov…

As @Sunnysmalhotra and I wrote @rooseveltinst, the post-neoliberal pivot represented by the Inflation Reduction Act is the best bet to make the US a credible partner on climate, by embedding benefits throughout both red and blue states.
rooseveltinstitute.org/2022/11/22/cle…

Yet, despite the longstanding frustration with the US not taking climate action, too many in the trade and diplomacy world spent too much of 2021 opposing Build Back Better, which helped lead to the gutting of some of its most pro-worker provisions.
thehill.com/policy/equilib…

Thankfully, cooler heads have been on a mission to prevail. At a @rooseveltinst forum, @AmbassadorTai noted that the climate crisis creates an opportunity "to work together, to tackle this existential crisis that threatens all of us.”
rooseveltinstitute.org/event/progress…

And @BrianDeeseNEC noted "we’re nowhere near the global saturation point of needed investments. We should welcome actions" to subsidize and scale up new green industries.
whitehouse.gov/briefing-room/…

Initiatives like the Global Arrangement on Sustainable Steel and Aluminum offer a forum to coordinate parallel industrial strategies...
nytimes.com/2022/12/07/bus…

The moment also offers an opening to align trade rules with 21st century realities.
nytimes.com/2023/01/25/bus…

There's a future to win, and it's not zero sum, as @BrianDeeseNEC @johnpodesta and @JakeSullivan46 write @TheEconomist.

economist.com/by-invitation/….

For more on the pitfalls and opportunities ahead in the green economic transition, here's @FeliciaWongRI and me in @ForeignAffairs.
foreignaffairs.com/united-states/…

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