At first glance, the EU’s 2024-29 policy cycle may appear focused on the technical implementation of the vast amount of climate legislation agreed under the Fit for 55 package. Yet beneath these technicalities lie important strategic choices. Chief among them is how to boost economic competitiveness while safeguarding climate credibility. Plans for a Clean Industrial Deal are a logical spin-off of the European Green Deal. Now, the EU must ensure its targets are realistic and finally make a business case for the transition. It will implicitly have to address the critical question of carbon pricing now and beyond 2030.