The gathering in Washington was characterized by former Prime Minister Enrico Letta as an "extraordinary meeting" with John Podesta, the progenitor of the IRA, or Inflation Reduction Act, which comprises a series of interventions designed to facilitate the green transition of the American economy. The European Commission commissioned Letta to provide a report on the reform of the single market, as well as the working and potential of the IRA, and he was impressed. "Today," argues Letta, "the EU states are acting in a haphazard manner to promote the green economy. What distinguishes the American method is the simplicity of the intervention: automatic and on a national level. The IRA is thus positioned as a potent accelerator of investments in the US economy's green transformation, capable not just of modernizing the country but also of combating China's ascent". True, the IRA arouses significant concern in Europe, which fears the protectionist nature of the American operation. However, mistrust must be overcome, Letta says, and just as the United States has followed Europe in prioritizing the green economy, "we must follow them in the manner, that is, on speed and simplicity. However, in order to do so, we must overcome the fragmentation of the European market. And that is my mission".
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