The new industrial war
China, the United States and the EU are stepping up their competition to lead the clean industry sector through subsidies, tariffs and industrial policies that are reshaping the rules of the global energy transition.
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The energy transition can no longer be understood solely as a climate issue. Against a backdrop of growing rivalry between China, the United States and Europe, industrial policies, subsidies, tariffs and trade restrictions have become key tools of geopolitical competition.
This is the second episode of Geopolitics of Energy, a series by EsadeGeo, with the support of Fundación Repsol, exploring the relationship between global power dynamics and the energy transition through the lens of current affairs.
Angel Saz-Carranza, Director of EsadeGeo, speaks with Fernando Martínez Espejo, Head of the Analytical Unit at Global Trade Alert, about the rise of industrial policies in the world's major economies. They examine how China, the United States and the European Union have evolved their strategies to protect strategic sectors such as batteries, solar panels and electric vehicles, and what implications these measures have for competitiveness, innovation and the energy transition.
The conversation also explores the role of subsidies, minimum prices, trade barriers and technological dependencies, as well as a fundamental question: who actually bears the costs of this new global race to lead the clean industry sector?