Tariffs and subsidies loom large in the energy transition. The US Inflation Reduction Act, or IRA, has been of global importance, changing trade relationships and causing some governments to rethink their domestic policies. The European Union responded by introducing the Net-Zero Industry Act (NZIA), although it has fewer subsidies and trade barriers than its transatlantic counterpart. On today’s show, Dana speaks with Antoine Vagneur-Jones and Matthew Hales from BNEF’s Trade and Supply Chains team. As they discuss key findings from the report US Clean-Tech Industrial Policy Leaves EU Behind – For Now, they look at the risks the IRA faces in the upcoming US election, the relative effectiveness of US and EU tariffs, and whether western markets can realistically expect to challenge Chinese manufacturers on cost competitiveness. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: US-Clean Tech Industrial Policy Leaves EU Behind - For Now - https://www.bnef.com/insights/34863See omnystudio.com/listener for privacy information.