Inflation Reduction Act contains a loss of protectionism, which means the electric vehicle has to be assembled in North America. Europe's having to deal with the fact that this investment is being tempted away. President Emmanuel Macron has been talking to a lot of European firms,. trying to persuade them not to relocate their investment overseas.
A pair of crises will bedevil Europe, starting with crippling energy prices in the short term. And American protectionism threatens a longer-term dent in the continent’s green-industry ambitions. A visit to Ivory Coast’s cocoa operations reveals why balancing farmers’ welfare and market forces is so tricky. And what Britain’s street names reveal about its history and its ideals.
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