Bidenomics and its Global Implications

Bidenomics, President Biden's new industrial strategy, has significant global implications. The double whammy of President Trump's tariffs and President Biden's subsidies is seen by many as a potential threat to the world trading system. However, the Biden administration argues that the world should welcome America's huge public investments in clean energy. Foreign reactions to Bidenomics have been skeptical and even hostile, with concerns raised about unfair competition and violations of World Trade Organization rules. The Director General of the World Trade Organization, Ingozi Akonja Iweila, believes that the objectives of Bidenomics, focusing on creating good jobs and supporting sustainable development, are not inherently opposed to those of the WTO. However, she emphasizes the importance of avoiding protectionist measures and ensuring a level playing field for competition.