Episode Details

Europes New Industrial Strategy: A Made in Europe Label and the Industrial Accelerator Act

The European Union is reviving a Made in Europe label, aiming to boost its manufacturing sector. The new Industrial Accelerator Act encourages governments to prioritize local bids in public contracts for strategic sectors like electric vehicles, steel, solar panels, and wind turbines. This shift focuses less on price and more on emissions and local production.

The act flips strict open-tender rules, allowing countries to favor European companies or products, with minimum thresholds for subsidies and grants. This move is a response to Europes eroding industrial base and a desire to reduce reliance on foreign entities.

China has criticized the act, calling it a breach of world trade rules. The EU, however, is pushing forward, influenced by the pandemics supply chain disruptions, Russias Ukraine invasion, and geopolitical tensions. This strategy mirrors Chinas own Made in China 2025 plan, which transformed them into global brands in sectors like EVs, fashion, and coffee chains.

The EUs vote on this act is expected to cause trade friction, potentially reshaping grants for Irish home retrofits or car upgrades. This move could force everyone to rethink global supply lines.

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