FINANCIAL SUPPORT INSTRUMENTS FOR CLEAN TECHNOLOGY INDUSTRIES IN THE USA AND EU: MOVING AWAY FROM COMPETITION TO STATE INTERVENTIONISM

In recent years, two phenomena have significantly affected the traditional concept of industrial policy in both the US and the EU: the rapid expansion of China and external shocks such as the COVID-19 pandemic and the war in Ukraine. In response to the revealed dependence on Asian suppliers, both these global leaders have officially initiated discussion on the use of protectionist and interventionist instruments. The purpose of this article is to identify similarities and differences in the tools proposed by the US and the EU aimed at encouraging companies to invest in clean technologies, and to examine the channels through which these tools impact international competition. Accordingly, comparative analyses were conducted of US and EU legal acts and policy documents, supplemented by available reports and preliminary studies prepared by financial and consulting institutions. The findings indicate that the objectives, scope, and financial tools for conducting industrial policy have changed significantly - new subsidy instruments have been developed in the US, in many cases discriminatory towards third-party partners, while the previously restrictive rules for supporting domestic entrepreneurs in the EU have been substantially relaxed.