The European Union’s leaders endorsed advancing “Buy European” policies to protect strategic sectors during their competitiveness summit. The meeting at a moated Belgian castle brought together all 27 member states to develop responses to Europe’s economic challenges.
The policy shift toward European preference, long advocated by France, marks a significant evolution in EU economic thinking. It could mandate government prioritization of locally manufactured goods in public contracts, particularly in strategic sectors requiring protection from unfair international competition.
Von der Leyen’s March action plan encompasses regulatory simplification, EU Inc company law, capital market integration, and energy price reductions. The comprehensive package addresses multiple constraints on European business competitiveness through coordinated EU-level and national actions.
Belgium, France, Germany, and the Netherlands face particularly severe challenges with factory closures and declining investment. Prime Minister De Wever blamed high energy costs, regulatory burdens, and Chinese dumping, characterizing the situation as an existential crisis requiring immediate action.
The Industrial Accelerator Act scheduled for release later this month will establish European content targets for strategic products. This legislation will formalize European preference in sectors including solar panels and electric vehicles, providing concrete implementation mechanisms.