- Dependence was unacceptable and was making the European Union vulnerable in industries like car manufacturing that had run short of some components from Asia.
- It is essential to reinforce the European industrial strategy with the objectives of retaining Europe’s industrial capacities
As per a report by Reuters, French Finance Minister Bruno Le Maire called for a new plan on electronic components to reduce European dependence on Asian suppliers in the domain this year. He told reporters such dependence was unacceptable and was making the European Union vulnerable in industries like car manufacturing that had run short of some components from Asia.
The report added that while speaking at a news conference along with EU Internal Market Commissioner Thierry Breton, Le Maire also raised concerns about plans for takeovers by foreign companies of EU firms in the electronics sector.
Retaining Europe’s industrial capacities
He added that they believe that it is essential to reinforce the European industrial strategy with the objectives of retaining Europe’s industrial capacities. It will help in developing them in the near future and assuring Europe’s strategic independence.
