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On Tuesday, 10 June, Thibaut L’Ortye spoke at EUROPEN’s panel on Global Partnerships and the EU Single Market. The discussion focused on how Europe can strengthen its competitiveness and attractiveness as an investment destination. Mr L’Ortye underlined the importance of external partnerships to support supply chains, particularly in areas such as critical minerals and AI, as well as secondary raw materials. He also highlighted the need for the EU to remain open to international investors while pursuing its economic security objectives.

Predictability in EU-US relations, Europe’s competitiveness agenda and the future of the Single Market were centre stage during AmCham EU’s Executive Council Spring Plenary on Monday, 8 and Tuesday, 9 June. Our senior business leaders met with EU, US and Member State policymakers to discuss the pressures shaping investment decisions in Europe. The group engaged with the following officials: Tomas Baert, Trade Adviser in the Cabinet of European Commission President Ursula von der Leyen; Thomas Hans Ossowski, German Ambassador to the EU; Andrius Kubilius, European Commissioner for Defence and Space; Roberta Metsola, President of the European Parliament and Andrew Puzder, US Ambassador to the EU.

The Industrial Accelerator Act will be a key test of whether the EU can strengthen industrial competitiveness while advancing decarbonisation. With significant pressure already weighing on businesses in Europe, from high energy costs and supply chain disruptions to unnecessary red tape and intensifying global competition, getting that balance right matters. If Europe fails to send clear signals that it remains a predictable place to invest, capital will go elsewhere.

AmCham EU supports the objectives of the IAA, but its success will depend on how it is designed. A central question in the debate is how ‘European preference’ should be approached. Strengthening Europe’s economic resilience and security is a legitimate objective. However, an approach that creates uncertainty for companies from partner countries, particularly by leaving key decisions to secondary legislation, risks undermining investment and limiting access to the technologies needed for the transition.

The focus should instead be on providing clarity early and rewarding companies that create real EU-added value through manufacturing, R&D, skills and emissions reductions. Learn more in our full paper.