EU Embraces ‘Buy European’ Policy Amid Trade Tensions
EU leaders have agreed to pursue a “Buy European” policy to safeguard strategic industries in response to increasing global economic volatility and declining competitiveness. This initiative aims to bolster sectors like defense, clean tech, and AI by prioritizing European-made goods in public procurement. The move signifies a shift towards greater protectionism, with plans to introduce an Industrial Accelerator Act to set targets for European content in key products and simplify regulations to boost the single market. While there is broad consensus on the need for action, debates are emerging regarding the scope of “Buy European” and the balance between protectionism and open free trade.
John Q. Hosedrinker