{"id":328298,"date":"2022-12-08T02:00:17","date_gmt":"2022-12-08T07:00:17","guid":{"rendered":"https:\/\/www.sgtreport.com\/?p=328298"},"modified":"2022-12-07T03:52:12","modified_gmt":"2022-12-07T08:52:12","slug":"bidens-climate-change-war-picks-up-steam-in-more-ways-than-one","status":"publish","type":"post","link":"https:\/\/www.sgtreport.com\/2022\/12\/bidens-climate-change-war-picks-up-steam-in-more-ways-than-one\/","title":{"rendered":"Biden&#8217;s Climate Change War Picks Up Steam In More Ways Than One"},"content":{"rendered":"<p><em>by Mish Shedlock, <a href=\"https:\/\/mishtalk.com\/economics\/bidens-climate-change-war-picks-up-steam-in-more-ways-than-one\" target=\"_blank\" rel=\"noopener\">Mish Talk<\/a>:<\/em><\/p>\n<p><img decoding=\"async\" class=\"alignleft\" style=\"width: 35%;\" src=\"https:\/\/mishtalk.com\/.image\/c_limit%2Ccs_srgb%2Cq_auto:good%2Cw_536\/MTk0MjU2MjYwMzIzODc4NTc3\/clean-energy-trade-wars.webp\" alt=\"\" \/><\/p>\n<div class=\"m-detail-header--dek\">US allies are steaming mad at Biden for his climate change war. Let&#8217;s discuss who fired the first shot and who is escalating the war.<\/div>\n<div>\n<p><strong>The Climate Trade War<\/strong><\/p>\n<p>The Wall Street Journal comments\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/biden-starts-a-climate-trade-war-electric-vehicles-ira-batteries-minerals-north-america-protectionsim-11670169459?mod=hp_opin_pos_1\" target=\"_blank\" rel=\"noopener\">Biden Starts a Climate Trade War<\/a><\/p>\n<blockquote class=\"m-blockquote l-inline\"><p>Wasn\u2019t President Biden going to end Donald Trump\u2019s destructive trade wars against allies? Apparently not. His \u201csuper aggressive\u201d climate protectionism\u2014to quote French President Emmanuel Macron\u2014is infuriating U.S. friends and may set off a subsidy and tariff war.<\/p><\/blockquote>\n<\/div>\n<div class=\"m-detail-header--meta\">\n<div class=\"m-description--list\"><\/div>\n<\/div>\n<p><!--more Read More--> TRUTH LIVES on at\u00a0<a href=\"https:\/\/sgtreport.tv\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-auth=\"NotApplicable\">https:\/\/sgtreport.tv\/<\/a><\/p>\n<p>U.S. allies are upset about the Inflation Reduction Act\u2019s generous subsidies for domestically manufactured green technologies. In his trip to Washington last week, Mr. Macron said the U.S. subsidies may \u201cperhaps fix your issue but you will increase my problem.\u201d They\u2019re really a problem for everybody.<\/p>\n<p>The dispute involves tax credits for electric-vehicle and battery production. The IRA\u2019s $7,500 consumer tax credit are restricted to EVs assembled in North America. Most foreign auto makers make EVs abroad and export them because the global and U.S. markets are still small.<\/p>\n<p>The law also offers generous tax credits for domestic EV battery production, including a $35 per kilowatt-hour credit for U.S.-made battery cells, plus $10 per kilowatt-hour for domestically produced modules. These credits are expected to shave the cost of producing an EV battery by 30% to 40% and reportedly prompted Tesla to reconsider plans to make battery cells in Germany.<\/p>\n<p>A Toyota spokesman in Canada spoke the truth: \u201cWhile the IRA is being presented in many quarters as key legislation to fight climate change, in reality it is an act of trade protectionism.\u201d The Canadian Steel Producers Association has warned that U.S. steel producers would also indirectly benefit from the climate subsidies without incurring carbon costs.<\/p>\n<p><a href=\"https:\/\/mishtalk.com\/economics\/bidens-climate-change-war-picks-up-steam-in-more-ways-than-one\" target=\"_blank\" rel=\"noopener\"><strong>Read More @ MishTalk.com<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>by Mish Shedlock, Mish Talk: US allies are steaming mad at Biden for his climate change war. Let&#8217;s discuss who fired the first shot and who is escalating the war. The Climate Trade War The Wall Street Journal comments\u00a0Biden Starts a Climate Trade War Wasn\u2019t President Biden going to end Donald Trump\u2019s destructive trade wars [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[143793],"_links":{"self":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/328298"}],"collection":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/comments?post=328298"}],"version-history":[{"count":0,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/328298\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/media?parent=328298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/categories?post=328298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/tags?post=328298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}