Mario Draghi report: European leaders aim to reduce economic disparities with the US and influence election outcomes in their final stages

On September 9, 2024, Mario Draghi, former ECB President, published a report on improving EU competitiveness. In it, the United States was equated with China as a country that does not comply with international trade norms.

While Draghi’s team’s report formulates a vision for the development of the EU’s defense and industrial policy, it is more of a signal to American political elites ahead of the November elections.

Europe sees this final stage of the US election as a good time to start addressing the economic asymmetry between the US and the EU.