Brussels Presents ‘Made in Europe’ Plan to Kickstart Manufacturing
Welcome to the Brussels Edition. I’m Suzanne Lynch, Bloomberg’s Brussels bureau chief, bringing you the latest from the EU each weekday. Make sure you’re signed up.
Among the many consequences of the spiraling war in the Middle East, the upheaval reinforces the European Union’s urgency in bolstering strategic sectors. That’s the framing from EU industry chief Stephane Sejourne today as he introduced a key element in revitalizing Europe’s economy.
Manufacturing has been declining for years in the bloc, with the car sector under particular pressure. The introduction of the Industrial Accelerator Act is an attempt to address the issue and strengthen Europe’s homegrown industries. The aim, according to Sejourne, is for manufacturing to account for a fifth of the bloc’s economic output by 2035, up from 14% now.