Industrial protectionism linked to outcomes like decarbonisation and national security has been on the rise for a while now, though US reciprocal tariffs have accelerated debate.
Well before President Trump even came to office, the US had been engaging in subsidising clean industries through its Inflation Reduction Act. Blocs like the European Union have been busy implementing a border carbon adjustment program known as CBAM, signalling an appetite to move outside frameworks of multilateral cooperation. Australia, too, has engaged through programs like Future Made in Australia and the more recently announced Green Iron Investment Fund linked to hopes of a revival at the Whyalla steel works. Meanwhile, geopolitical megatrends like emerging multipolarity, the rise of BRICS, incremental de-dollarisation of global energy and commodity trade raise questions about whether these industrial protectionist measures are somehow connected to - or a consequence of - the megatrends.
In this instalment of Diplomacy at the Bar, Dr Daniel Rossetto - host of Climate Mundial's Energy and Climate Weekly, former J.P. Morgan commodities executive and extensively published author on these topics - and AIIA SA President Michael Cook will engage in a discussion about how these developments will affect Australia, how the nation ought to react and what kind of opportunities may emerge for Australian business. Michael will also ask questions of Daniel about his recent video, Reciprocal tariffs, the US dollar and global energy trade.
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Part of our regular 'Diplomacy at the Bar' series, held with the support of the University of Adelaide. Where knowledge, networking and a glass of wine coalesce for a more relaxed way to get involved in international affairs.
We hope you come along to join the conversation and get to know some fellow international affairs aficionados at Adelaide's The Howling Owl.