The Biden Administration’s New Industrial Policy: Domestic and International Implications

The article aims to analyze new industrial policy based on the example of actions taken by the Joe Biden administration. Their essence is transforming the economy in line with climate goals while stimulating development. The paper will present the main assumptions of the United States’ green industrial policy, its goals, and international implications, which indicate that it is characterized by economic nationalism. The article attempts to answer three main research questions: What is the essence of the new industrial policy? What are the goals of the new industrial policy initiated by the Joe Biden administration? What are the expected international implications of this policy? Answers to the above questions will enable verification of the hypothesis, which states that the Joe Biden administration has initiated a new industrial policy in the spirit of state interventionism based on new environmental protection assumptions. Its goal is to give the U.S. economy new pro-development impulses and increase its competitiveness. The first part of the paper will present assumptions of the new industrial policy, then the goals and measures of the new United States industrial policy, and the third part will show the international implications of the above policy.