European leaders unanimously agreed to implement a “Buy European” policy targeting strategic sectors during a high-level summit focused on Europe’s economic future. The gathering at Alden Biesen castle in Belgium brought together all 27 member states to brainstorm solutions for regaining competitiveness amid global economic turbulence.
António Costa identified defense, space, clean tech, quantum technologies, artificial intelligence, and payment systems as sectors requiring protection and reinforcement. The European preference approach represents a proportional and targeted strategy to support these critical industries against unfair international competition and maintain European technological sovereignty.
Von der Leyen’s promised March action plan encompasses multiple initiatives beyond procurement preferences. The package includes further regulatory simplification, a new EU Inc company law regime for startups, integrated capital markets, and energy price reductions. She acknowledged the fine line between necessary protection and maintaining international trade obligations.
Belgium, France, Germany, and the Netherlands are experiencing particularly severe challenges with factory closures and investment declines. Prime Minister De Wever attributed these problems to high energy costs, regulatory burdens, and Chinese dumping of subsidized goods into European markets, creating an existential crisis for European manufacturing.
An Industrial Accelerator Act scheduled for release later this month will establish European content targets for strategic products including solar panels and electric vehicles. This legislation will formalize the European preference approach, requiring governments to prioritize locally manufactured goods in public contracts for designated strategic sectors.
EU Summit Endorses ‘Buy European’ Measures to Counter US and China Economic Dominance
