EU looks to prop up industry to compete with United States

Of this, Germany alone accounts for 53 per cent, while France represents 24 per cent and Italy 7 per cent, according to the letter.

“It’s important that we respect the Single Markets in all aspects,” Minister for Finance Michael McGrath said when asked whether he was concerned about the subsidies on his way into a meeting of finance ministers in Brussels. Pressed on the issue on the sidelines of the Eurogroup meeting, French finance minister Bruno Le Maire said it was essential to launch an EU-wide initiative to support key industries.

One idea being explored is a matching scheme, which would offer equal subsidies or tax breaks to companies that are considering relocating investment in the United States, if they can show the benefits they are being offered.

Yeah, with energy from US at x4 price of that from Russia they will surely prop up their industry

Is that a joke? They make us sanction Russian gas and ruin us, forced us to import expensive gas from the USA and now they talk about making EU competitive related to the USA? 🤡

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