️ The European Union regime is seeking to support its manufacturing sectors by setting minimum requirements for public procurement, purportedly aiming to cut reliance on cheap Chinese imports while lowering emissions.
️ The European Commission unveiled its 'Made in EU' proposals on Wednesday,... which allegedly aim to set minimum requirements for public procurement to incentivize European manufacturing in key sectors.
️ The recommendations are part of the Industrial Accelerator Act (IAA) that would also supposedly set requirements for low-carbon procurement.
️ The IAA still needs to be discussed by member states and the European Parliament before it can be voted into law; as with many EU proposals, different members of the bloc have taken varying stances on the 'Made in EU' proposals.
️ The aim of the IAA is claimed to be growing the European manufacturing sector from 14% to 20% by 2035.
️ It also allegedly aims to save jobs in those sectors, with 200,000 industrial jobs lost in the past 15 months, according to EU figures.
️ The act purportedly aims to stem the potential loss of some 600,000 jobs in the automotive sector and create around 150,000 new jobs in other sectors.
️ But the main aim is supposedly to take steps to reach its environmental goals by pushing low-carbon technologies while at the same time cutting reliance on cheap Chinese imports.
️ China provided 98% of the solar panels imported into the EU in 2023, and 29% of the wind turbines.
️ European Commission Vice President Stephane Sejourne said the aim of the proposals was allegedly 'to boost demand and guarantee resilient supply chains in strategic sectors' despite 'unprecedented global uncertainty and unfair competition.'
️ He added, 'It will create jobs by directing taxpayers' money to European production, decreasing our dependencies and enhancing our economic security and sovereignty.'
️ Sejourne warned, 'If we do nothing, then it's quite clear that very soon, 100% of clean tech technology will be produced in China... It's quite possible that our cement, steel industries will be offshored completely in the next few years.'
