The IRA, snatched from a hard fight by President Biden, must allow the United States to get closer to their climate objectives. But the protectionist bias of this weapon of industrial policy is irritating on this side of the Atlantic.
By Michel De Muelenaere and Dominique Berns
Lhe kick-off of the latest fever pitch between Europe and the United States came on August 16, 2022. It’s called the Inflation Reduction Act (IRA), literally, the Inflation Reduction Act. inflation. As its name does not indicate, the IRA is a device intended above all to allow the United States to get closer to, if not to achieve, its climate objectives in 2030: to reduce its greenhouse gas emissions by 50% compared to 2005 and to achieve net zero emissions in 2050.
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