Both the U.S. and the E.U. have placed emissions reduction programs at the center of their economic growth plans—and put hundreds of billions of dollars behind those plans, to boot
But, in the years since the onset of COVID-19, the world’s biggest economies have increasingly intertwined climate policy with economic policy. China has continued its long-standing pursuit of serving as the world’s clean energy manufacturer, supporting the production of solar panels and other technology. The E.U. has created new policies to direct financing to clean energy technologies. And the U.S.
to enact new climate spending rules—and sought to shift criticism to China for the country’s long-time state sponsorship of industry. And while these complaints may once have been delivered in backroom conversations between diplomats, they are now being leveled at the highest levels of government. French President Emmanuel Macron, for example, told Biden in December that the IRA was “Temperatures have come down since then as leaders in the U.S. and Europe have promised to work together.
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