We need an industrial booster for European industry, competitiveness and freedom

Today, the European Commission presented the Industrial Accelerator Act, a proposed regulation to decarbonise European industry and promote international competitiveness. The draft legislation had been postponed three times, with the main issue being the definition of “Made in Europe”, the extent to which the quality seal for European production in the EU includes third countries. In the end, the Commission proposes to consider products from countries like the US, Vietnam and Taiwan automatically being labeled as “Made in Europe”.

The Greens/EFA call for a European industrial policy with clear “Buy European” rules, lead markets for clean products and the protection of strategic companies from takeovers.

Bas Eickhout MEP, Greens/EFA President, comments:

"It’s time to reboot our industries and invest in industry, competitiveness and freedom. Europe needs to close the investment gap up to 800 billion to 1,200 billion euros per year. The conservatives turned Mario Draghi's investment booster upside down into a Maga-style simplification and deregulation agenda. The profits of the simplification race to the bottom will be 15 billion Euros which is closing only one per cent of the investment gap. We welcome that the Commission is now focussing on the decisive 99 per cent. 
“Europe´s dependency on fossil autocrats made it vulnerable to fossil shocks. It is crucial that we reduce our dependence on oil and gas as quickly as possible and accelerate the transition to clean energy and industry. The less we depend on fossil fuels the more we increase our economic resilience and safeguard our industrial sovereignty."

Sara Matthieu MEP, Greens/EFA Member responsible for the Industrial Accelerator Act, comments:

“The Industrial Accelerator can become the booster and the cornerstone of our European industrial policy. We need a massive investment program, a EU-wide coordinated plan to create lead markets for clean European steel and batteries made in Europe and a preference for clean technologies and strategic sectors, protection against unfair competition and tailor-made programs to invest in people and skills and fair pay.

“The Commission has caved to pressure and watered down the very heart of this legislation. Products from countries like the US and Vietnam are automatically considered 'Made in Europe' — even though they are not. Trump is going all-in on 'Made in America', slapping tariffs on European products and threatening us with an economic war, and we are rolling out the red carpet for American companies.

“We want to invest in homegrown resilient industries powered by renewables and cut the chains tying Europe to fossil autocrats. With Trump putting tariffs on Europe and China dumping subsidised products on our market, the rules of the game have changed. Europe cannot afford to be naive any longer, we need to play hardball too.´Made in Europe´ can be the global label for quality products and jobs. Stop using taxpayers money to subsidise the Chinese economy. Every euro flowing into the Chinese market is missing in Europe.”