French, German ministers, citing China, U.S. and IRA, call for EU-wide industrial policy

Citing accelerated U.S. and Chinese subsidy efforts in key sectors as well as a need for a joint response to the U.S. Inflation Reduction Act, France and Germany on Tuesday announced their intent to implement a bilateral industrial strategy and called for the European Union to hasten its efforts in developing its own competitive policy. “We want to mark a new stage in European industrial policy and we consider that between China and the United States, it is time to...