It’s Still About Security It was a thoughtful exchange lead by @Vicente Palacio of the Fundación Alternativas, the Embassy of Spain of the United States and EU Delegation in Washington, DC for the seminar on “EU Relations in Perspective – Reflections on a Common Agenda.” I enjoyed engaging with Federico Steinberg and Ignacio García Bercero on the topic of “Trade, Industrial Policy and the Green Deal in the U.S. and Europe” moderated by Stefanie Bolzen. While we might disagree on the viability of the European Union going folding into the arms of China to offset loss of trade with the United States, we did agree that all transatlantic participants see no benefit to a trade war. We must exhaust all avenues to protect a relationship that is so financially, commercially and culturally intertwined. To not do so will ensure mutual pain for consumers and businesses on both sides of the Atlantic. As I shared, the understandable instinct to pursue measures to ensure Economic Security, Energy Security and National Security should not lead to a fissure that could take decades to stitch back together. There is a shared desire to initiate policies that: · Create good manufacturing jobs · Help companies grow (domestically and internationally) · Allow companies to access innovative financing options · Increase energy affordability · Expand domestic economy However, protectionist policies can undermine domestic industry – the very thing all are trying to protect. My concern is that tariffs escalation between U.S. and Europe will increase prices unsustainably – and thus, only make Chinese technology still economical. The strength of our transatlantic relationship is built on a foundation of common values, and shared respect for the rule of law and sanctity of contracts, among other things. I also stressed that the “Green New Deal” (also known as the IRA and/or Bipartisan Infrastructure bills) has delivered some of the very outcomes many want to utilize tariffs to do – create jobs, protect domestic industry, etc. #energysecurity #economicsecurity #greennewdeal #nationalsecurity #transatlantictrade
