Loud among the voices was the European Union, accusing its valued ally and trade partner of luring European business to American shores and raising fears of EU-wide deindustrialisation. The legislation also, however, sparked international cries of protectionist foul play. When the United States passed the Inflation Reduction Act (IRA) in August 2022, the world sighed with relief that the US passed a bona fide climate bill. Sarah Jackson, Policy Advisor for transatlantic diplomacy at E3G. Mary Hellmich, Analyst at adelphi and Co-Lead of the Transatlantic Climate Bridge. How the US and the EU handle the present moment could have significant positive spillover effects for industrial decarbonisation around the world – and, as a result, international climate mitigation efforts, write Mary Hellmich and Sarah Jackson.
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