The Global Turn Away From Free-Market Policies Worries Economists - The New York Times (nytimes.com)
More countries are embracing measures meant to encourage their own security and independence, a trend that some say could slow global growth.
Biden to Call for Tripling Tariffs on Chinese Steel Products - The New York Times (nytimes.com)
In a speech to union steelworkers in Pittsburgh, the president will announce several new measures meant to raise new barriers against floods of Chinese imports.
The three European countries have joined the parade of others that are enthusiastically embracing industrial policies — the catchall term for a variety of measures like targeted subsidies, tax incentives, regulations and trade restrictions — meant to steer an economy.
More than 2,500 industrial policies were introduced last year, roughly three times the number in 2019, according to a new study. And most were imposed by the richest, most advanced economies — many of which could previously be counted on to criticize such tactics.
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| Kristalina Georgieva, managing director of the International Monetary Fund, has pushed back against the growing use of industrial policies.Credit...Mandel Ngan/Agence France-Presse — Getty Images |
