EP 690 New American Industrial Policy Focuses on a Cleaner Future

Manufacturing has been considered the backbone of the U.S. economy since the Industrial Revolution, yet with recent trade policies encouraging offshoring, there’s been a sense that America has lost its edge in this sector.  More often than not, we hear that  America’s economy has become one built on a services and not hard goods.  Given the recent trade wars with China and the global pandemic, there has been a growing realization that we needed to re-shore much manufacturing for our national security and for the future of our young workers.  With the passage of a combination of the Inflation Reduction Act, the CHIPS and Science Act, and the Infrastructure Investment and Jobs Act, we have three new pillars upon which to transform American manufacturing into a more efficient and greener approach.  It is also designed to accelerate economic growth and rebuild broken supply chains.  The green shoots of that effort are already apparent throughout the United States as new facilities are coming on line to support innovative approaches and new materials manufacturing for smart homes and cars.  Battery development for electric vehicles is particularly important in this mix.  Good paying jobs are also envisioned for many without college degrees.  To discuss this effort, Professor Miki Banu, a mechanical engineer from the University of Michigan joins us.