The EU Commission aims to make “Made in Europe” a more frequent requirement in production, strengthening the European economy. A corresponding draft law has now been presented.
To get Europe’s economy on a growth path, the European Commission wants certain products to be manufactured in Europe in the future. This includes electric cars and car parts, heat pumps and photovoltaic systems, as well as important building materials such as cement and aluminum.
EU Industry Commissioner Stéphane Séjourné presented a corresponding proposal for a law to support industry in Brussels. “It will create jobs by channeling taxpayers’ money into European production, reduce our dependencies and strengthen our economic security and sovereignty,” Séjourné explained.
The Commission’s goal is also to improve European competitiveness in the face of cheap imports from China. The proposal provides that high foreign direct investments must be approved in the future.
Criticism from German Industry
Yet, criticism of the proposals came from German industry: too bureaucratic and too protectionist, according to many lobby groups.
The Association of Municipal Enterprises, for example, warned of a slowdown in the energy transition and higher energy prices. The President of the Association of the Automotive Industry, Hildegard Müller, called for more comprehensive reforms to make the German and European economy more competitive. The German Chamber of Industry and Commerce criticized interference in entrepreneurial decisions.
“Additional requirements, extensive origin evidence and high demands in so-called lead markets will primarily burden little and medium-sized enterprises,” warned DIHK Foreign Trade Chief Volker Treier. This costs time, money and competitiveness. The EU member states and the Parliament must still agree for the proposal to grow law.
