On January 22, news emerged that automakers have declined to endorse the 'Made in Europe' product promotion campaign, which was put forth by the EU's industrial commissioner. This move underscores deep-seated rifts within Europe on how to tackle external competition. The previous week, Stéphane Séjourné, the EU Commissioner for Industrial Strategy, urged business leaders to add their signatures to a letter of opinion aimed at advancing the 'Made in Europe' policy. This policy would offer public subsidies as incentives to companies that incorporate a substantial proportion of locally sourced components and supplies.
To date, the initiative has garnered the support of over 1,000 CEOs and industry associations. Notable signatories include Clepa, a European trade body; ThyssenKrupp, a German industrial conglomerate; and Michelin, a French tire manufacturer. Nevertheless, according to five individuals with knowledge of the situation, automakers have withheld their signatures. Their hesitation stems from concerns regarding the precise definition of 'European products' and the practical application of the relevant regulations.
