Sen. Coons: Inflation Reduction Act Invests in Clean Energy and It Will Benefit the Whole World

BRENDE Chris Coons senator ░░░░░░░░ know the U S ░░░░░░░░ still the largest economy ░░░░░░░░ the world What you ░░░░░░░░ hearing also managing director ░░░░░░░░ IMF is saying here ░░░░░░░░ a bit of nearshoring ░░░░░░░░ avoid this notion of ░░░░░░░░ in time and the ░░░░░░░░ bit more just in ░░░░░░░░ building a little bit ░░░░░░░░ is fine but if ░░░░░░░░ go too much into ░░░░░░░░ notion of friendshoring or ░░░░░░░░ protectionist measures we can ░░░░░░░░ off a lot of ░░░░░░░░ globally We know that ░░░░░░░░ is there is a ░░░░░░░░ House There is also ░░░░░░░░ a new Senate How ░░░░░░░░ will the U S ░░░░░░░░ in friendshoring making sure ░░░░░░░░ things goes to Mexico ░░░░░░░░ countries that you re ░░░░░░░░ with Do you see ░░░░░░░░ point of the IMF ░░░░░░░░ Director And how will ░░░░░░░░ U S balance this ░░░░░░░░ make sure that we ░░░░░░░░ have growth in the ░░░░░░░░ to come and this ░░░░░░░░ be a very shallow ░░░░░░░░ if a recession at ░░░░░░░░ COONS Look thank you ░░░░░░░░ you for your comments ░░░░░░░░ the opportunity I do ░░░░░░░░ that American leaders and ░░░░░░░░ leaders in particular recognize ░░░░░░░░ severe disruptions of the ░░░░░░░░ and some of the ░░░░░░░░ of the reach and ░░░░░░░░ scope of globalization that ░░░░░░░░ caused a backlash in ░░░░░░░░ of our countries a ░░░░░░░░ backlash certainly in the ░░░░░░░░ States need to be ░░░░░░░░ One of the ways ░░░░░░░░ deal with some of ░░░░░░░░ challenges in terms of ░░░░░░░░ hemisphere and migration also ░░░░░░░░ to do some nearshoring ░░░░░░░░ improve the job opportunities ░░░░░░░░ Central America for example ░░░░░░░░ I don t think ░░░░░░░░ will be as robust ░░░░░░░░ potentially projected I do ░░░░░░░░ that we will continue ░░░░░░░░ have an open economy ░░░░░░░░ be committed to free ░░░░░░░░ and to see the ░░░░░░░░ value that globalization has ░░░░░░░░ to the world as ░░░░░░░░ as to many of ░░░░░░░░ people This is a ░░░░░░░░ point It is unclear ░░░░░░░░ a divided Congress might ░░░░░░░░ in trade policy but ░░░░░░░░ do think there s ░░░░░░░░ a lot of comment ░░░░░░░░ lot of concern about ░░░░░░░░ Inflation Reduction Act one ░░░░░░░░ the largest pieces of ░░░░░░░░ that I divided Senate ░░░░░░░░ passed A 50 50 ░░░░░░░░ managed to do some ░░░░░░░░ things invest in our ░░░░░░░░ infrastructure invest in our ░░░░░░░░ science research and invest ░░░░░░░░ our own energy security ░░░░░░░░ independence I was encouraged ░░░░░░░░ hear the comments from ░░░░░░░░ von der Leyen earlier ░░░░░░░░ that we recognize that ░░░░░░░░ we are implementing this ░░░░░░░░ investment we need to ░░░░░░░░ it with an eye ░░░░░░░░ our closest partners and ░░░░░░░░ and to do it ░░░░░░░░ just for our benefit ░░░░░░░░ for the world s ░░░░░░░░ I think one thing ░░░░░░░░ is missed in the ░░░░░░░░ of the Inflation Reduction ░░░░░░░░ is that a lot ░░░░░░░░ it is an investment ░░░░░░░░ new clean energy technologies ░░░░░░░░ can benefit the whole ░░░░░░░░ methane management and capture ░░░░░░░░ capture and sequestration small ░░░░░░░░ reactors So if you ░░░░░░░░ the message from the ░░░░░░░░ Reduction Act that somehow ░░░░░░░░ has become solely protectionist ░░░░░░░░ that we will abandon ░░░░░░░░ finance or we will ░░░░░░░░ the global markets that ░░░░░░░░ helped make so much ░░░░░░░░ over the last decade ░░░░░░░░ don t think that ░░░░░░░░ a correct reading I ░░░░░░░░ it was principally about ░░░░░░░░ energy independence not an ░░░░░░░░ to harm others or ░░░░░░░░ isolate us from others ░░░░░░░░ do think that the ░░░░░░░░ of it will end ░░░░░░░░ proving to be more ░░░░░░░░ for the world as ░░░░░░░░ whole than was initially ░░░░░░░░