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In January 2019, Calenda launched his political manifesto Siamo Europei ("We Are Europeans") with the aim of creating a joint list composed by PD and other progressive and Europeanist parties for the May's European election, in which he was elected in the North-East constituency, receiving more than 270,000 votes.

In parliament, Calenda has since been serving on the Committee on Industry, Research and Energy (ITRE). In addition to his committee assignments, he is a member of the parliament’s delegation for relations with Canada.

In August 2019, tensions grew within the populist majority, due to Matteo Salvini's motion of no-confidence on Prime Minister Giuseppe Conte. On 20 August, Conte resigned his post to President Mattarella and on the following day, the national direction of the PD officially opened to a cabinet with the Five Star Movement (M5S), based on pro-Europeanism, green economy, sustainable development, fight against economic inequality and a new immigration policy. On 28 August, PD's leader Nicola Zingaretti announced at the Quirinal Palace his favorable position on keeping Giuseppe Conte at the head of the new government, and on same day, Mattarella summoned Conte to the Quirinal Palace for the 29 August to give him the task of forming a new cabinet. Calenda strongly opposed the new government, stating the PD had renounced to represent the reformists, so it became necessary to found a "liberal-progressive" movement. Calenda exited from the PD and on 5 September 2019, while the new government sown in, he officially announced the foundation of his new movement. On 21 November 2019, the new party, which was named Action (Azione), was officially founded.

Before his nomination, Calenda was widely seen as a strong supporter of free market and globalization, moreover he often expressed his positive view about TTIP, a proposed trade agreement between the European Union and the United States, with the aim of promoting trade and multilateral economic growth. However, his tenure as minister was characterized by his opposition to foreign multinational corporations and his defence of Italian workers. His policies became particularly evident in January 2018 when the Brazilian company Embraco, a subsidiary of the US multinational Whirlpool, announced an offshoring to shift its production from Turin to Slovakia. After weeks of tensions and protests, the Italian government and Embraco reached a deal to postpone the relocation and suspend the layoffs, permitting to reach a better agreement for workers during the following year.

On 6 March 2018, two days after the 2018 general election, which saw the defeat of Renzi's Democratic Party and a strong showing of populist forces like the Five Star Movement and the Lega, Calenda announced he would join the Democrats, stating that "we must not form a new party but work to uplift the one that already exists." He also added that the PD must be reorganized as a real leftist force and must not support any cabinet led by populist parties.

In April 2018, workers of the Italian section of Alcoa, an American industrial corporation, get a 5% of shares and a place on the board of the new company created by Swiss-based Sider Alloys' acquisition of the Sardinian aluminium mine. Calenda stated that "it will be the first case in which workers participate in the management of a company and they have fully deserved it".

On 20 January 2016, Renzi appointed him Italy's Permanent Representative to the European Union, an office he took up on March 21 that year. This appointment was criticised by both the opposition and Italian diplomats, because the office of Permanent Representative had always been held by a diplomat and not by a politician such as Calenda.

On 10 May 2016, following the resignation of the incumbent minister Federica Guidi, Calenda was appointed Minister of Economic Development. Calenda continued as minister in the government of Paolo Gentiloni, who succeeded Renzi when he resigned on 12 December 2016 as Prime Minister following the constitutional referendum.

On 2 May 2013 he was appointed Deputy Minister of Economic Development in the government of Enrico Letta, and was later confirmed in that post in the cabinet of Letta's successor, Matteo Renzi.

In 2012 he joined Civic Choice, the liberal political party of incumbent Prime Minister Mario Monti. Calenda ran in the 2013 general election, but failed to win a seat in the Chamber of Deputies.

In 2009 Calenda was appointed political coordinator of Future Italy, a liberal centrist think tank founded by Montezemolo.

He graduated in law at the La Sapienza University in Rome, after which he worked in various finance companies until 1998, when he became a manager of Ferrari under the presidency of Luca Cordero di Montezemolo. In the early 2000s he became the marketing manager of Sky Italia. From 2004 to 2008 Calenda served as assistant to the then president of Confindustria, Luca Cordero di Montezemolo.

In 1983, at the age of ten years, he played the lead role in an Italian movie Cuore, directed by his grandfather, Luigi Comencini. During his adolescence, his aristocratic background did not prevent him from joining the Italian Communist Youth Federation (FGCI).

Carlo Calenda (born 9 April 1973) is an Italian manager and politician. On 10 May 2016, he was appointed Minister of Economic Development in the government of Matteo Renzi and continued in that role in the government of Renzi's successor, Paolo Gentiloni. From 21 March to 10 May 2016, he served as Italy's Permanent Representative to the European Union. He has been serving as a Member of the European Parliament since July 2019.

Carlo Calenda was born in Rome in 1973. He is the son of Fabio Calenda, a journalist, and Cristina Comencini, a film director and screenwriter, and the grandson of Luigi Comencini, a popular director of Italian comedy movies, and Giulia Grifeo di Partanna, descended from an ancient aristocratic family from Sicily.