WASHINGTON, USA – The passage of the Inflation Reduction Act in the United States unleashed its largest investment in climate and energy ever. But it also left many countries questioning some of its protectionist provisions, accusing the US of bending, if not breaking international trade rules under the World Trade Organisation (WTO).
So how do we move forward on climate without going backward on trade? Noah Kaufman says international trade rules need to be redesigned if protectionism is not to become an unintended consequence of green industrial policy.
Kaufman is a senior research scholar at Columbia University’s Center on Global Energy Policy and served in the Biden Administration’s Council of Economic Advisors.