IEP@BU Brussells Seminar, "The Impact of IRA on the EU Industrial Policy: Challenging Conventional Wisdom"

On November 9th, the Institute for European Policymaking organized its first in-person event in Brussels: The Impact of IRA on the EU Industrial Policy: Challenging Conventional Wisdom.

IEP@BU director, Daniel Gros, presented the IEP Working Paper he co-authored with Philipp Leo Mengel and Giorgio Presidente, The Eu and the US Inflation Reduction Act, No Rose Without Thorns. 

Mario Nava, EU Commission Director-General for Structural Reform Support, and Giulia Del Brenna, Head of Unit at the EU Commission Directorate General for Internal Market, Industry, Entrepreneurship and SMEs, discussed the paper in a panel moderated by Carlo Altomonte, a member of the IEP@BU managing board. 

Francesco Billari, Bocconi University rector, attended the event. 

A lively debate with attendees - mainly EU Commission senior officials - followed the presentation. 

The event followed Chatham House rules. 

The main message coming from the paper is that significant environmental subsidies for the green transition in the US increase the market for electric vehicles and other green technologies also for European companies. 

The increase in demand more than outweighs the effects of non-tariff barriers that the IRA introduces to protect American companies.  

Therefore, the IRA should not trigger a protectionist response in Bruxelles. Retaliatory subsidies in Europe would only harm the integrity of the EU single market, with harmful consequences for the Bloc’s competitiveness.  

The event was hosted by the law firm Grimaldi Alliance, whose managing partner Francesco Sciaudone attended the seminar. 

In the evening, the Brussels Chapter of Bocconi Alumni Community hosted a dinner party to celebrate Mario Nava, who was recently elected Bocconi Alumnus of the Year. 

Mario Monti, former Bocconi president and current IEP@BU Honorary President, attended the party and delivered a congratulatory speech. Also Sylvie Goulard, IEP@BU deputy president, participated at the event.

IEP@BU does not express opinions of its own. The opinions expressed in this publication are those of the authors. Any errors or omissions are the responsibility of the authors.

If you want to stay up-to-date with the initiative of the Institute for European Policymaking@Bocconi University, subscribe to our monthly NEWSLETTER here.