About 40 percent of major U.S. manufacturing investments announced in the first year of Joe Biden’s ambitious industrial and climate policies have been delayed or halted, according to a Financial Times investigation.
The US president’s Anti-Inflation Act and the Chips and Science Act provided more than $400bn in tax credits, credits and grants to boost the US cleantech and semiconductor supply chain.
However, of projects worth more than $100mn, a total of $84bn has been delayed between two months and several years, or put on hold, the FT found.
Here’s more from Amanda Chu, Alexandra White and Rhea Basarkar at the FT.
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