×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Europe | Trade

EU Plans Tightening Foreign Investment with Eye on China

EU Plans Tightening Foreign Investment with Eye on China

Wednesday, 05 May 2021 08:00 AM

BRUSSELS (AP) — The European Union is planning to tighten the foreign investment rules in the bloc to make sure that local producers and industries are no longer undercut by non-EU investors that have faced slacker rules up to now.

The plans announced Wednesday will surely affect China, which has invested heavily in Europe despite relying on types of state aid no longer available to EU firms.

Internal Market Commissioner Thierry Breton says that with the proposal, the EU is “closing a gap in our rule book to make sure that all companies compete on an equal footing.”

Battered by the COVID-19 pandemic, the EU economy has taken an unprecedented hit and also laid bare dependencies on strategic products in sensitive sectors, from energy to heath, in which it wants to become far more autonomous.

The goal is to “build Europe a stronger and more resilient economy,” EU Vice President Margrethe Vestager said.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The European Union is planning to tighten the foreign investment rules in the bloc to make sure that local producers and industries are no longer undercut by non-EU investors that have faced slacker rules up to now. The plans announced Wednesday will surely affect China,...
Europe,Trade
152
2021-00-05
Wednesday, 05 May 2021 08:00 AM
Newsmax Media, Inc.
Join the Newsmax Community
Register To Comment Login To Comment
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved