A “Buy European” policy gained unanimous support from EU leaders during their summit addressing Europe’s economic competitiveness crisis. The 27-nation gathering at a Belgian castle focused on protecting strategic sectors amid growing threats from global competitors.
The policy could require governments to prioritize locally manufactured goods in public contracts for strategic sectors. An Industrial Accelerator Act expected later this month will establish European content targets for products including solar panels and electric vehicles, operationalizing the preference approach.
Von der Leyen’s comprehensive action plan promises single market strengthening through regulatory simplification, EU Inc startup support, capital market integration, and energy price cuts by March. She expressed confidence that the enormous pressure and urgency could drive unprecedented change.
Belgian Prime Minister De Wever’s characterization of an “existential crisis” facing major European economies resonated with leaders. He attributed factory closures and investment declines to high energy costs, regulatory burdens, and unfairly subsidized Chinese goods flooding European markets.
The summit revealed ongoing debates about balancing protection with openness. Irish Prime Minister Martin emphasized preserving the EU’s free trade ethos, while Macron described European preference as necessary defensive measures against competitors disregarding World Trade Organization rules.