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European Commission Proposes 'Made in EU' Industrial Accelerator Act
The EU's Industrial Accelerator Act targets 15% of manufacturing sectors to increase local content and cut reliance on China, aiming to protect 600,000 jobs, the Commission said.
- On Wednesday, the European Commission presented the Industrial Accelerator Act in Brussels, unveiling new 'Made in Europe' rules to boost low‑carbon, EU‑made products in public procurement.
- Driven by concerns over supply shocks, EU industry chief Stephane Sejourne said the proposal responds to vulnerabilities exposed by the pandemic and energy prices, led by France to strengthen industry.
- Foreign investors must meet all conditions, including a 49% ownership cap and employing at least 50% EU workers, for investments over 100 million.
- The European Parliament and member states will negotiate the IAA's final text, while Britain, Japan, Turkey and Korea's Ministry of Trade, Industry and Resources have raised concerns and seek talks.
- The European Commission’s proposal could redirect over €2 trillion of EU public procurement, but Brussels‑based think tank Bruegel warned it might increase costs and provoke criticism from China’s state media, which called similar moves 'hypocritical mimicry'.
131 Articles
131 Articles
EU 'discriminates' against UK car production with new rules as scheme could 'BREACH' Brexit deal
The UK's leading automotive representative has slammed new plans from the European Union that "discriminate" against car manufacturers and could cost the UK billions of pounds.The European Union has introduced new "Made in EU" measures to protect companies and manufacturers on the continent, primarily against Chinese brands.The Industrial Accelerator Act will be launched to boost manufacturing, help businesses grow and create jobs across the con…
The EU will require subsidized electric cars to be made in Europe, forcing their assembly to take place on Community territory and at least 70% of their components to come from the Union.The measure, included in the new Industrial Acceleration Act, seeks to curb China's dependence, protect up to 600,000 jobs and strengthen European economic sovereignty.The main objective is to ensure that public aid to promote electric mobility does not end up b…
World Insights: European countries and industry question EU's "Made in EU" bid to revive manufacturing
BRUSSELS, March 4 (Xinhua) -- The European Commission on Wednesday proposed the controversial Industrial Accelerator Act (IAA) to prioritize "Made in EU" goods in public support and procurement, although member states remain split and industry voices warn it may fall short of triggering a real manufacturing rebound. Read full story
After months of fierce battle between its committees, the Union presented on Wednesday, in a version sweetened by the advocates of free trade, the Industrial Accelerator Act, which introduces European preference into strategic industries such as automotive, nuclear and steel.
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