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?
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?