The EU has proposed the "Industrial Accelerator Act" to promote "Made in the EU".

On March 4th, the European Commission announced the "Industrial Accelerator Act", proposing to introduce requirements such as "Made in the EU" in public procurement and public support programs to enhance the EU's internal value creation ability and consolidate the EU's industrial foundation.

The press release issued by the European Commission on the same day stated that the "Industrial Accelerator Act" sets the goal of increasing the share of manufacturing in the EU's gross domestic product (GDP) to 20% by 2035. Data shows that in 2024, the share of manufacturing in the EU's GDP was 14.3%.

The press release said that the act introduces a certain degree of "Made in the EU" requirements for public procurement and public support programs, which apply to strategic industries such as steel, cement, aluminum, and automobiles, and can be extended to other energy-intensive industries such as chemicals under appropriate circumstances. The act also sets additional conditions for major investments exceeding 100 million euros in the EU's strategic industries: if a single third country accounts for more than 40% of the global production capacity in the relevant field, the investment project must carry out technology and knowledge transfer, comply with local relevant requirements, and ensure that the proportion of EU employees hired is not less than 50%.

Since the "Industrial Accelerator Act" was being deliberated, it has sparked controversy both within and outside the EU. The relevant measures originally planned to be launched last year were postponed several times due to different stances among member states; the United States, the United Kingdom and other countries have also expressed concerns about the relevant rules, believing that strengthening "Made in the EU" in public procurement and raising local thresholds may drive up enterprise costs and create new trade barriers.

According to the press release, next, the new proposal will be submitted to the European Parliament and the Council of the European Union for review and consultation. (Source: Xinhua News Agency  Responsible Editor: Zhang Xinran)