The era of protectionism began in the United States. Is the end of free trade

Let's go back in time to the distant past. Outside in 2016. US Trade Representative Michael Froman points out that foreign businesses that US companies have to compete with receive generous subsidies from their governments. And wonders what to do about it. Froman himself answered it in the way that has been accepted in the United States for decades: we need to fight subsidies for foreign companies that impede the work of American exporters and the free development of world trade.

At present, however, the US government is on the exact opposite path. Instead of fighting the illegal provision of subsidies to foreign companies, the Biden administration is actively creating its own system of subsidies. They are also introducing regulations requiring businesses to use local components and materials, something that U.S. officials have previously opposed. Under legislation passed last year, the U.S. government plans to invest more than $1 trillion over the next ten years in industries such as semiconductors, renewable energy and green technologies. Officials are now preparing to apply the new rules for reallocating funds, some of which went into effect on January 1.