Le nuove sfide della sicurezza economica: rischi ed opportunità dell’Inflation Reduction Act (IRA) per l’Unione europea

The pandemic crisis and the Russian invasion of Ukraine have accelerated the process of fragmentation of the global economy along geopolitical lines. Accordingly, national economic security has gained increasing importance in industrial policy decisions. There is a risk, however, of an erosion of the benefits gained from economic interdependence. The implications for industrial sectors affected by the green transition process are also relevant.

The Inflation Reduction Act (IRA) sponsored by President Joe Biden and enacted in August 2022, contains a series of incentives for U.S. business investment in green energy technologies. However, their defensive nature ("Buy-American") and scope (US$ 380 bn over 10 years) may have significant implications for European companies. This has resulted in a heated debate on the most appropriate responses by the European Union.

In the framework of the strategic partnership with Intesa Sanpaolo, the Istituto Affari Internazionali (IAI) is promoting, in collaboration with Bocconi University, an hybrid event to discuss risks and opportunities of the IRA for the European Union. The meeting is the occasion for presenting and discussing the working paper “The EU and the US Inflation Reduction Act, No Rose Without Thorns” by Daniel Gros (Director, Institute for European Policymaking, Bocconi University).