> ... some were concerned about the law's provisions favoring American industry. ... the chairman of the 2023 G20 meeting in India, called it "the most protectionist act ever drafted in the world", asking American officials, "You believed in market forces and now you do this?" Other countries have begun to create their own similar laws. China requested WTO dispute consultations with the United States.
> 27 European Union finance ministers have expressed "serious concerns" about the financial incentives of the Inflation Reduction Act, and are considering challenging it. They have listed at least nine points in the legislation, which they say could be in breach of World Trade Organization rules. They were opposed to the subsidies for consumers to buy North American-assembled electric cars, as EU officials believe the subsidies discriminate against European carmakers. One EU official told CNBC that, "there is a political consensus (among the 27 ministers) that this plan threatens the European industry" and its supply of raw materials. In February 2023, the European Commission announced it would propose the "Net Zero Industrial Act", similar to the IRA, in turn putting pressure on the United Kingdom and South Korea.
In the mild sort of way. Mostly Biden didn’t change much and kept things stable (the way businesses like it), but there was definitely room in that for the CHIPs act, which is a double edged sword (by pushing China to invest more in its local chip production). He didn’t bother getting rid of the DJT tariffs that survived after COVID hit either.
This was the entire purpose of the CHIPS act. Biden just took some of the protectionist policies Trump started in his first term and did gave them an actual objective.
