All articles tagged with #industrial accelerator act
Volkswagen CEO Oliver Blume called for closer cooperation between France and Germany to strengthen European competitiveness against Chinese rivals. Speaking at the Paris Motor Show, he supported EU proposals to prioritize domestic manufacturing while acknowledging progress in trade talks with Beijing. The appeal comes as Chinese brands capture significant market share in Europe and VW undergoes a massive restructuring.
The European Union is fractured over the definition of 'Made in Europe' within the proposed Industrial Accelerator Act, which aims to favor local industry in public contracts to counter Chinese competition. France demands a strict EU-only preference, while Germany advocates a broader 'Made with Europe' model including trading partners. Spain has proposed a three-tier compromise to bridge the divide, but legislative timelines are slipping, and the UK fears exclusion from the new rules.
China criticised the EU's Industrial Accelerator Act for imposing restrictive foreign-investment requirements and potentially violating WTO rules, warning it could retaliate; Brussels defends the plan as a job- and security‑oriented move to boost European, low‑carbon production with EU-content thresholds (70% for EVs, 25% for aluminium and cement) across three sectors, and says dialogue is possible, though countermeasures remain on the table if talks fail.
China criticized the EU's proposed Made in Europe rules, calling them systemic discrimination and promising countermeasures if enacted. The plan would require local-content thresholds for public funds in sectors like cars, green tech and steel, aiming to bolster Europe’s industry; Beijing said it would safeguard its firms’ rights and interests, reflecting rising tensions in EU–China trade.