It's Wednesday, and we're back with another episode from the World Economic Forum in Davos, Switzerland.

POLITICO's Suzanne Lynch, Alex Ward and Jakob Hanke Vela reveal the on-the-ground EU-U.S. subsidy spat playing out here in Davos. We analyze European Commission President Ursula von der Leyen's speech at the WEF, where she announced the EU's policy response to compete with Washington's subsidy spree. And Alex speaks to U.S. Senator Joe Manchin, who played an instrumental role in passing America's Inflation Reduction Act, which Europeans see as creating competition for their own industries.

Then POLITICO's Ryan Heath sits down with Gary Cohn, former director of America's National Economic Council and now vice chairman of IBM, to discuss the protectionism tensions between Europe and the United States and hear his surprising economic outlook for the coming year.

Finally, Ryan heads over to the Female Quotient's Equality Lounge® to speak with its founder, Shelley Zalis. She's been helping to bring VIPs into the conversation outside the main WEF stage — even while speaking to this podcast, bringing fashion designer Diane von Furstenberg and Alyse Nelson of the Vital Voices Global Partnership into her chat with Ryan.

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