The European Union is preparing “Buy European” rules that would tie subsidies and public procurement to the use of locally made components in strategic sectors such as batteries, electric vehicles and renewables. Proponents argue the plan would shore up Europe’s industrial base amid Chinese competition, high energy costs and an increasingly protectionist America. Critics warn it risks higher prices, weaker competitiveness and trade retaliation, while clashing with the EU’s free-trade agreements. Member states are divided over how strict and wide-ranging the local-content rules should be. The proposals are expected to be unveiled later this month.
WAGRAMWAGRAM on
Having inefficient industries is worse than being de-industrialized
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The European Union is preparing “Buy European” rules that would tie subsidies and public procurement to the use of locally made components in strategic sectors such as batteries, electric vehicles and renewables. Proponents argue the plan would shore up Europe’s industrial base amid Chinese competition, high energy costs and an increasingly protectionist America. Critics warn it risks higher prices, weaker competitiveness and trade retaliation, while clashing with the EU’s free-trade agreements. Member states are divided over how strict and wide-ranging the local-content rules should be. The proposals are expected to be unveiled later this month.
Having inefficient industries is worse than being de-industrialized
*sigh* I am tired, boss…