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America isn’t new to industrial policy, but the Biden Administration has signalled it revive the government’s industrial ambitions. Already president Trump made it a point to have industrial production repatriating to America – and used trade policy to give a premium to domestic manufacturers. President Biden is now adding a new American Jobs Plan that is planning big investments in infrastructure, industry and US jobs.
In this episode, Fredrik Erixon and Scott Lincicome discuss about US industrial policy. Is America now outlining a new industrial policy for the country? What will be its consequences for trade, innovation and economic growth?
Scott Lincicome is a senior fellow in economic studies at the Cato Institute in Washington, DC. He is a leading expert on trade and regulatory affairs, and spent two decades practising trade law at White & Case LLP before joining Cato. He is the author of several studies on international and domestic economic policy, among them his recent report Manufactured Crisis: “Deindustrialisation”, Free Markets, and National Security.