Tribune. Long before the United States and China, Europe has bet on the ecological transition. The Paris agreement was wanted by the European powers, and the style of relaunch decided at the European Summit in July 2020 confirmed the reality of the ambitions. However, during the ten months that were necessary for the validation of this plan by the 27 member states, circumstances have changed. After the ice age of the Trump era, Joe Biden’s United States is also stepping up on environmental issues. For the planet, this is great news, of course – and everyone should be happy about it. But economically, things are more ambiguous.
In the $ 2.3 trillion infrastructure plan under discussion in Washington, more than $ 1 trillion in investments are earmarked for sustainable projects: approximately $ 175 billion will be released for electric vehicles, $ 165 billion will be allocated to modernizing vehicles. public transport and the rail network, 180 billion will finance research largely focused on environmental issues. So much for the numbers. But it is above all in matters of doctrine that things appear in all clarity.
Indeed, this massive investment program is based on an economic doctrine in which innovation and investment predate regulation. It is precisely this approach that has enabled the United States to establish itself as the epicenter of the digital revolution, and today as a justice of the peace for its regulation. The parallel is obvious: after twenty years of free rein, even of protectionism in favor of GAFA, the Biden administration seems indeed determined to impose a new regulatory framework on its champions. The signs are there to bear witness to this, with Washington’s support for global corporate taxation during the G7 finance meeting or the appointment of “antimonopolies” Tim Wu, as special advisor to the president on technology and competition issues , and Lina Khan, as Commissioner of the Federal Trade Commission.
Joe Biden, however, does not make this political gesture out of greatness of soul. Now that the American digital giants have won the technological and commercial battle, it is simply becoming realistic for the United States to introduce new standards to protect competition.
You have 52.57% of this article to read. The rest is for subscribers only.