DG Grow warns of loss of competitiveness

The EU Commission’s Directorate General for Industry is warning of the consequences of the energy crisis and subsidy programs such as the Inflation Reduction Act for European industry. „Europe’s competitiveness and resilience are at risk,“ says an analysis by DG Grow, which is available to Europe.Table and will be presented on Thursday along with the Net-Zero Industry Act. A significant proportion of European companies are now considering relocating operations outside the EU, it said. This could „impact the entire supply chain and is very worrying for our European SMEs,“ the analysis states.