Visit to the world’s largest wind turbine tower manufacturer, CS Wind
Mentioning “friends with…Mr. Moon”
Before next year’s elections, President Joe Biden visited a South Korean company based in the U.S. He went to promote the success of the Inflation Reduction Act (IRA), a key Bidenomics legislation. Many interpret this move as a countermeasure against former President Donald Trump, who is expected to run for office again and has pledged to abolish the IRA.
On the 29th (local time), President Biden visited CS Wind, a Korean wind tower manufacturer in Pueblo, Colorado. A banner reading “Bidenomics, Investing in America” hung in the factory, and President Biden received a briefing on the production process.
President Biden’s Slip of the Tongue
CS Wind, which President Biden visited that day, is the world’s largest wind tower manufacturer. Earlier this year, CS Wind initiated a factory expansion project worth over $200 million, which, according to the White House, is expected to create 850 new jobs by 2026. After touring the factory, President Biden expressed his gratitude to CS Wind Chairman Kim Sung Kwon. However, when addressing Chairman Kim, he mistakenly referred to former President Moon Jae In as “But I am friends with your leader, Mr. Moon,” instead of President Yoon Suk Yeol.
This is President Biden’s second time having visited a Korean company’s factory in the U.S. since taking office. He visited SK Siltron’s factory in Michigan last November. The goal is to promote Bidenomics by highlighting the success of foreign companies’ investments in the U.S. due to the Semiconductor Support Act (CSA) and the IRA.
Success of Foreign Companies’ Investments
Attracting Asian-Pacific Investment
The White House states that since the Biden administration’s launch in January 2021, the enactment of the IRA and CSA has attracted a total of $200 billion in U.S. investment from the Asia-Pacific region. In particular, the scale of investment by Korean companies has exceeded a minimum of $55.5 billion, accounting for over a quarter of the total investment in the Asia-Pacific region.
During his visit, President Biden emphasized the achievements of Bidenomics and made stern remarks targeting former President Trump. He criticized Republican Representative Lauren Boebert, representing the district where CS Wind is located, for opposing his policies that help the U.S. economy, calling her “one of the leaders of the extreme MAGA (Make America Great Again, Donald Trump’s election slogan) movement.” This appears to be a de facto attack on former President Trump, who has criticized the IRA as the “largest tax increase in history.”
Furthermore, President Biden strongly criticized former President Trump’s pledge to repeal Obamacare and his tax cut policy for the wealthy.
Meanwhile, polls conducted before the U.S. elections in November next year show former President Trump in the lead. According to a recent presidential poll released by Emerson College, former President Trump leads with 47% support in a two-way race, beating President Biden (43%).
By. Kwon Hae Young
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