How Biden's Unheralded National Industrial Strategy is Recasting U.S. Foreign Policy

[Celerity]

An effort to strengthen national competitiveness and give America an edge in the world

https://theliberalpatriot.substack.com/p/how-bidens-unheralded-national-industrial



President Biden heads to Ohio tomorrow to deliver a speech at the future site of two microchip manufacturing plants, an effort to sell a leading policy accomplishment of this summer: the CHIPS and Science Act of 2022, passed with bipartisan support last month. Among other things, this legislation provides federal money and tax credits to encourage the construction of microprocessor manufacturing facilities in the United States - and Ohio is another state with critical contests in the midterm elections two months away.

Biden’s speech will largely be viewed through a domestic economic and political lens – but it’s important to recognize how his administration’s emerging industrial policy links up to U.S. foreign policy and will shape how America competes in the world in the years and decades to come. A main goal of this bill is to decrease America’s dependence on overseas supply chains, and it also offers investments and incentives to give the country’s science and technology capacities a boost at a time when the issue of which countries have an edge in these arenas has become a central question in geopolitics.

Expect Biden to say many of the same things he did this summer in signing the bill into law: that America barely produces 10 percent of these chips today versus 40 percent 30 years ago, and that the Chinese Communist Party lobbied against this bill. He should build on these comments and widen the focus a bit more, reminding his Ohio audience and the country at large of the important steps his administration has taken to re-wire America’s economy and make it more competitive in the world.

Three main components of Biden’s national industrial policy

1. Massive public investments and incentives for technology and clean energy, including new infrastructure

Since President Biden took office, Congress has passed three pieces of legislation that amount to a program of massive public investment in technology, carbon-free energy, and new infrastructure:

The Infrastructure Investment and Jobs Act of November 2021,

The CHIPS and Science Act of early August 2022, and

The Inflation Reduction Act (IRA) of later that month.

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[Demsrule86]

1. Great post. I watched Biden campaign in Austintown and in Cleveland. He is very good.

And Ohio is grateful to both Biden and to Obama for saving the autos...so many jobs were saved. And the chips factories will keep two Ford plants in Ohio open. Biden saved thousands of jobs. Hopefully, Tim Ryan will get the word out about who has Ohio's back...and it isn't Vance and the rest of the GOP assholes.

[crickets]

2. K&R for visibility.