EU Commission Prepares "Green Deal" To Counter Chinese Subsidies

Reuters has reported that the European Commission is preparing to reveal plans for its "Green Deal Industrial Plan" at a meeting of European diplomats on Wednesday.

• Reuters: “The plan is designed to outline how Europe can keep its place as a manufacturing hub for green products such as electrical vehicles and respond to multi-billion dollar subsidy programs of China and the United States.”
• A draft of the document says: “Chinese subsidies have long been twice as high as those in the EU... distorting the market and ensuring China's lead in a number of technologies.”
• "Europe and its partners must do more to combat the effect of these unfair subsidies and prolonged market distortion.”
• Euractiv reported last week that the Czech Republic, Denmark, Finland, Austria, Ireland, Estonia, and Slovakia have formally objected to any proposal which will compel addition EU funding in a letter to European Commission Vice President Valdis Dombrovskis.
• According to Euractive, Germany, the Netherlands, and Belgium also likely to vote against the plans when EU leaders meet to discuss them on 9-10 February.