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Industrial Policy

20 posts

For Better or Worse, We Have Another Chance to Evaluate Industrial Policy

Over on the Baker Institute website, I have a piece entitled "Will the Biden Administration’s Industrial Policy Experiment Succeed?" You won't be surprised to hear that I am skeptical that the administration's industrial policy moves will be good for the U.S. economy

How Is the Biden Administration Thinking about "Industrial Strategy" and International Economic Relations?

Last week, Deputy Secretary of Commerce Don Graves made some remarks on "Modern Industrial Strategy for U.S. Competitiveness, Equity, and Resilience." In his remarks, Graves explained how the Biden administration was providing direct subsidies and other government support to promote certain sectors of the U.S. economy.

Some Questions about the Biden Administration's Plans for Industrial Subsidies

This is from a speech last week by White House NEC Director Brian Deese on "Executing a Modern American Industrial Strategy": Some have raised a valid concern that countries may keep one-upping each other on ever-larger industrial subsidies, reducing their efficiency. But the investments we’re

Neoliberalism vs. Post-Neoliberalism vs. Plain Old Mixed Economies

I recently went to an event on industrial policy hosted by the Roosevelt Institute, and on one panel Rana Foroohar of the FT said the following about neoliberalism and post-neoliberalism: So let me scene set a little bit about where we've been, and in particular, the neoliberal

Meet the New Industrial Policy, Same as the Old Industrial Policy

Here is a piece I published last week on the Baker Institute blog: MEET THE NEW INDUSTRIAL POLICY, SAME AS THE OLD INDUSTRIAL POLICY? With the recent enactment of the CHIPS and Science Act, longtime advocates of industrial policy are feeling a sense of triumph, and proclaiming that U.S.

Commerce Secretary Raimondo on Section 232 Steel and Aluminum Tariffs

If any doubts remained six months into the Biden Administration that the Administration would be any less protectionist or “Buy American” oriented than its predecessor, they were largely laid to rest by recent comments from Commerce Secretary Gina Raimondo in an interview with Bloomberg News *[1] (reported in World Trade

Forced Technology Transfer Provisions in the CAI and the US-China Phase One Deal

It's interesting to compare the forced technology transfer provisions of the EU-China Comprehensive Agreement on Investment (CAI) and the US-China Phase One trade agreement. Here are the CAI provisions: Article 3 Performance Requirements 1. Neither Party may, in connection with the establishment or the operation of

If Everything Is Industrial Policy, Is Anything Industrial Policy?

Law professor Ganesh Sitaraman has a piece arguing in favor of an industrial policy for the United States. He laments that "[o]ver time, industrial policy ultimately became the Lord Voldemort of economics, so evil and dangerous that it must not be named," and he wants to make

Can Industrial Policy Be Kept Out of the Wrong Hands?

Todd Tucker has a new paper in which he argues in favor of "industrial policy and planning." I was planning to follow a policy of industriously ignoring it, because I didn't want to call attention to it. Better just not to talk about it, I thought.

Industrial Policy as a Tool of U.S. Foreign Policy

This is from Jennifer Harris and Todd Tucker in Politico: President Donald Trump’s threat to levy tariffs on Mexico has triggered a political war in Washington, and not the usual partisan kind. Some Republicans are girding to fight their own president, rightly finding it absurd that he would take