The Secretary of State for Employment USAMartin Walsh assured this Tuesday, after his arrival at the Economic Forum of Davosthat the controversial approval of the US Inflation Reduction Act (IRA) is a measure that will serve to create industry and “good opportunities for well-paid jobs.”
“I believe that the Inflation Reduction Act seeks to not only create industry so that we are leaders on the global stage when it comes to climate change, but also to create good opportunities for well-paying jobs. I don’t think it’s just for the US, but it could be a good opportunity for everyone”Walsh explained in a meeting with the international press.
In recent months, relations between the European Union and the United States have been marked by the approval in August of this law, which offers significant financial incentives to facilitate the ecological transition.
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Specifically, the law provides for subsidies worth nearly US$400 billion, focused mainly on boosting the green energy industry in the country and reducing emissions of polluting gases, which in the EU’s opinion constitutes unfair competition and discrimination for European companies, which could relocate their investments.
“I think we’re learning from each other about how to deal with what’s going on right now. I think that this is something that makes each country unique in its economy and in the way it responds”, Walsh points out.
In this sense, he considers that the problems in the supply chain are the great challenge for Washington, while the war in Ukraine is having a greater impact in Europe.
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“I think we just need to keep talking. And I know that Treasury Secretary (Janet) Yellen is talking to her counterparts and the President (Joe Biden) is talking to his counterparts.”, he stressed.
The Secretary of Employment wanted to make clear his position in defense of the working conditions of workers in the US, despite the tax measures.
“I am a person who always advocates for higher wages for people. When I think of higher wages, I don’t really think of inflation. I’m thinking of creating opportunities. Under normal circumstances we would like to see higher wages, lower inflation, because you want to see more money in people’s pockets.”he stressed.
Source: EFE.
Source: Gestion
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