Sanjaya Lall Fund Panel 2023: "Green Industrial Policy: Saving the World without a Trade War"

Lead Speaker Professor Joe Stiglitz; Panellist Professor Lord Stern; Panellist Michael Liebreich

The US has adopted two major industrial policy programs, one subsidizing green industry, the other chip and other high-tech industries. In doing so, it seemingly paid little if any attention to WTO rules, and Europe rightly was more than a little concerned. There appears to be the threat either of a trade war, or of Europe matching the US subsidies, further eroding the international rules-based system and putting developing countries at a disadvantage. So, too, Europe is discussing whether to impose cross-border tariffs on countries where production is insufficiently “green.” This panel will explore whether we can find a way of saving the planet without a trade war. Is a new global trade framework required, and if so, what might it look like? Is it possible politically to get there? And if not, then what?