A European Commission is considering setting new goals so that by 70% of certain products, such as cars, batteries and clean technologies, are manufactured in Europeadvances the “Financial Times”. This is an effort to prioritize domestic goods within the European Union (EU) and revitalize domestic industry.
The Executive Vice-President of the European Commission responsible for Prosperity and Industrial Strategy, Stéphane Séjourné, intends, according to the British newspaper, strengthen local industry, protect jobs and reduce dependence on imports from China.
Critical sectors such as technologies clean and heavy industries, would have prioritythe creation of a voluntary label for “green steel” to encourage the purchase of lower-quality European steel carbonalthough more expensive.
European sources tell the “Financial Times” that the measure could cost European companies more than 10 billion euros per yearmainly affecting automobilesbatteries, clean technologies and heavy industries such as steel, with the risk of making products more expensive and reducing competitiveness in the European market.
The final proposal must be presented to December 10, 2025but could still be adjusted or delayed due to internal divisions within the European Commission, and it is likely that local content limits are lower than the 70% initially proposed.