The Inflation Reduction Act is reducing U.S. reliance on China  NEWS
Date:2023-09-20   Source:[美国] Daily Climate

On August 16, 2022, President Biden signed the Inflation Reduction Act into law. Over a year later, its climate provisions remain a hot topic.

The law’s proponents argue that it’s created a boom in domestic manufacturing jobs within the United States while paving the way for significant climate pollution cuts. Its opponents claim that by accelerating the transition to clean technologies like electric vehicles and solar panels whose main components are predominantly made in Southeast Asia, the Inflation Reduction Act is increasing U.S. dependence on Chinese manufacturing.

But though China does play an outsized role in the manufacturing of clean energy technologies, the Inflation Reduction Act’s authors included provisions specifically seeking to remedy the situation by onshoring more of that supply chain within U.S. borders.

China is dominating the global clean energy transition

It’s important to first understand that the global transition to a clean energy economy is already underway. According to the International Energy Agency, 14% of new cars sold around the world in 2022 were electric vehicles, commonly called EVs. That’s up from less than 5% a mere two years earlier. The EV share is forecast to reach 18% of new car sales this year and continue rising rapidly.

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