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Towards a new industrial policy: The United States economic policy agenda post-COVID-19

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Towards a new industrial policy: The United States economic policy agenda post-COVID-19

Author: Artecona, Raquel - Velloso, Helvia Physical Description: 64 p. Editorial: ECLAC Date: October 2022 ECLAC symbol: LC/TS.2022/152

Description

This document examines the United States economic policy agenda proposed by President Joe Biden following his inauguration in January 2021, the discussions in the United States Congress since then, and the resulting legislations that have been signed into law. It also details government efforts to address supply chain bottlenecks and legislative efforts to pass a unified bill on increasing innovation and strengthening competitiveness. Four major legislations –the American Rescue Plan Act, the Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act– were signed into law as a result. The last three together suggest that the United States government appears to be moving towards a new industrial policy, focused on semiconductors and defense technology, and on clean energy.

Table of contents

Abstract .-- Introduction .-- I. President Biden’s Build Back Better Agenda .-- II. Addressing supply chain bottlenecks .-- III. Investing in innovation and competitiveness.