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Politics

EU Will Propose Crisis Tool for Supply Chain Emergencies

  • Bloc wants ability to require certain orders be prioritized
  • Plan expected to be made public this month; some see overreach
A European Union flag flies in Brussels, Belgium

A European Union flag flies in Brussels, Belgium

Photographer: Geert Vanden Wijngaert/Bloomberg
Updated on

The European Commission wants the power to force companies to fill orders within the European Union first during times of crisis, or risk fines.

According to a draft document seen by Bloomberg News, “the Commission may, in exceptional circumstances,” require companies to accept such priority rated orders of “crisis-relevant goods.” If they don’t, companies could face fines up to “1.5% of the average daily turnover in the preceding business year for each working day of non-compliance,” the draft said.