Inflation Reduction Act

Former Commerce Secretary Gina Raimondo highlighted Europe's industrial policy struggles at a CFR event, noting the continent's $250 billion clean energy investment pales against America's $370 billion commitment through the Inflation Reduction Act. Europe faces "very different policies and approaches" across member states on energy transition speed, creating coordination challenges the US federal system avoids. Russia's Ukraine invasion has accelerated Europe's renewable push, but Raimondo's analysis suggests fragmented execution may undermine competitiveness against America's coordinated industrial strategy.