While debates over the merits of industrial policy continue to rage in the West, US President Joe Biden’s administration hasn’t waited to pick a side. Since 2021, the United States has introduced bold policies to support critical sectors, accelerate innovation, and strengthen the economy’s productive capacity – including by imposing tariffs aimed at protecting domestic industry from Chinese competition.
While debates over the merits of industrial policy continue to rage in the West, US President Joe Biden’s administration hasn’t waited to pick a side. Since 2021, the United States has introduced bold policies to support critical sectors, accelerate innovation, and strengthen the economy’s productive capacity – including by imposing tariffs aimed at protecting domestic industry from Chinese competition.