‘Made in Europe’ plan’s sting in tail for Asia and the wider world
The soon-to-be-finalised initiative will impact industries from cars to manufacturing, steel and defence
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GLOBAL business is increasingly alarmed by the pending “Made in Europe” package – the latest example of protectionist drift among key world powers.
Former US Senate majority leader James Watson is believed to have coined the phrase, “If you can’t beat them, join them.” A century later, this rationale guides the European Union (EU) as it seeks to finalise its “Made in Europe”, a move sparking international concern from Asia to the Americas.
EU leaders have closely watched international developments that have moved much public policy in a protectionist direction. This includes US President Donald Trump’s tariffs, which were given a new legal rationale on Feb 21, after the Supreme Court struck down his original reciprocal and fentanyl tariffs.
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