Nine European countries warn of the dangers of the plan "Buy European" On prices and supply chains
Nine countries in the European Union, today, Monday, urged the bloc to exercise the utmost caution before adopting plans to support European industry through the “Buy European” policy, warning of its potential effects on prices, supply chains, and competition within the single market.
The European Commission is preparing to put forward proposals next month to boost industry, reduce carbon emissions, and increase clean technology production, with a tendency to impose priority on locally manufactured goods in order to reduce Reliance on imports, especially from China, according to the “Market Screener” platform.
France supports this trend, as French President Emmanuel Macron called on his Chinese counterpart, Xi Jinping, last week to address “unsustainable imbalances.” In trade, threatening to impose customs duties if there is no progress, and German officials, including Finance Minister Lars Klingbeil, called for adopting a similar approach in vital components.
But the nine countries – namely the Czech Republic, Estonia, Finland, Ireland, Latvia, Malta, Portugal, Sweden and Slovakia – said in a paper submitted to the meeting of competitiveness ministers that any policy of this kind must be dealt with “with the utmost degree.” Caution.”
It indicated the need to conduct a comprehensive assessment of its effects before proceeding with it, and to apply it only when there are no alternatives, and for a specific time and in clear strategic sectors, without complex verification procedures that may hinder companies.
The countries added that competition is necessary for innovation, and that strict rules may push investments outside Europe and limit the options available to consumers.
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