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Central to Joe Biden’s reelection campaign is his claim to be transforming the US economy by brining new life to old manufacturing areas.
The US government is pouring hundreds of billions of dollars of public money into the green industries of the future, including electric vehicles, microchips, batteries and renewable energy.
The motivation is partly to counter China’s domination of these industries .
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Although the strapline omits the use of the term Inflation Reduction Act, but this is what this clip is about. In short, the US has pivoted towards the green economy, with a particular focus on old manufacturing areas, with a significant expansion of public spending and public support for the green economy and US infrastructure, as well as looking to develop as a domestic computer chip industry.
It's thrown down the gauntlet to the EU and the UK, with the former having responded, and the UK, well...waiting...