Brussels – The European Union’s best response to competition from the United States and China “can be summed up in three words: Made in Europe.” This is the conviction of Stéphane Séjourné, Executive Vice-President of the European Commission responsible for Industry, who, in an editorial published yesterday evening (1 February) in several national newspapers, insisted that Brussels establish “once and for all a genuine European preference in the most strategic sectors.” The Séjourné’s op-ed was approved by 1,141 companies and industry associations.
“Without an ambitious, effective and pragmatic industrial policy, the European economy is destined to become nothing more than a playground for its competitors,” said the former French Foreign Minister, chosen by Ursula von der Leyen to lead the revival of the Old Continent’s competitiveness. The timing is no coincidence: on 12 February, at the informal summit of EU heads of state and government, Antonio Costa has invited Mario Draghi and Enrico Letta to update their reports on competitiveness and the single market, which have so far remained on the back burner. Above all, in February, Séjourné will present the Industrial Accelerator Act, in which “European preference” will play a key role.
“The Chinese have ‘Made in China’, the Americans have ‘Buy American’, and most other economic powers have similar programmes that give preference to their own strategic resources. So why shouldn’t we?” the Executive Vice-President said. Faced with international competition that “has never been so unfair” and trade rules that “are being redefined”, the EU “has no choice”. The principle to be set in stone is that “whenever European public funds are used, they must contribute to European production and the creation of quality jobs.”
Not all capitals are fully behind Séjourné’s plan, which French President Emmanuel Macron has been pushing for some time. Some member states are concerned that local purchasing requirements could discourage investment and ultimately damage the EU’s competitiveness. A first sense of the mood among the 27 member states this afternoon (2 February), when ambassadors meet to try to find a compromise on the €90 billion loan to Ukraine. The sticking point is Paris’s request to introduce a “European preference” for the portion of the loan earmarked for arms purchases (around 60 billion euros). In line with Séjourné’s principle, France is also opposing the UK’s attempt to be included among the countries eligible to purchase arms through the loan.
English version by the Translation Service of Withub
