RE:RE:RE:RE:NGC MORNING BRIEFHarley103,
The latest U.S. political administration leaders, i.e. from Obama through to Biden, three consecutive administrations led by bought and paid for U.S. Presidential marionettes, have been complicit in ensuring to have the geopolitical and geoeconomic landscape deteriorate so badly that todays clear march in incessantly ramping up not only economic war (which is simply the prelude to what is to come) was not only inevitable; it was guaranteed.
You stated "I for one applaud what Biden is doing, if only we had a leader with a spine to do the same".
What's more, your present political leader and the minions and sycophants supporting him, who together are doing the bidding of their respective global oligarch masters, are never meant to actually develop and maintain "a spine".
The Inflation Reduction Act, "IRA", ultimately guarantees plenty of resulting impacts of various kinds and quality, one of such impacts being that the North American and the European based battery-electric powered automotive manufacturers would be made to perpetually pass on increasingly systemically inflated costs of EVs to the end purchaser; thus immensely impacting demand.
I would explain precisely why that is; and yet, I simply wouldn't want to bore you with such facts.
Suffice to say the U.S. "IRA" is considered to be an intentionally planned, engineered, manufactured and quite intentionally deployed economic weapon of mass destruction and that once the challenges to the U.S "IRA" are launched and begin to be dealt with, the resulting outcome would also eventually serve in destroying the America and Europe dominated WTO global influence.
Just keep in mind China's leadership can fashion similar weapons and elect to launch such weapons specifically at the U.S., Canada and the complicit global Western world dominated economies within Europe and elsewhere.
At China's expense, Biden wants to act tough leading up to the November elections;and there are specific tolls which would be borne by the main players operating in the U.S. automotive manufacturing industry as a result.