European Union ready to resist USA trade policy?

Elias Hubbard
August 24, 2019

"This will allow the fund to meet the strategic objective of supporting European champions while maintaining financial stability".

A "European Future Fund" is part of a list of proposals by officials in Brussels that could become policies under Ursula von der Leyen, the next European Commission president. However, the proposal reflects growing aspirations by the European Union to increase the competitiveness of European companies, particularly in the technology sector, amid the bloc's struggles to establish national champions to better compete with US and Chinese firms.

The 173-page proposal, obtained by Politico, aims to build a more defensive European Union that can withstand the protectionist measures of Washington and Beijing. By putting more public money into EU-born companies, the Commission intends to counteract this trend. "Europe has no such companies", the document notes.

If you are searching for the EU's next bad idea, look no further than the "European Future Fund".

The document says: "The operating mode of the fund would have a long-term, equity-based focus with a commercial, profit-oriented model".

Officials also want to shake up trade rules in the expectation that Trump will withdraw from the World Trade Organisation.

Other reports by Click Lancashire

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