European Union leaders agreed on Thursday to back a revamp of the single market, simplified regulations and other steps to ensure the bloc can compete with the United States and China as an industrial leader in green and digital technologies.
which offers $369 billion of green subsidies that often only apply to products made in North America, have raised EU fears of an exodus of European industry.
Dutch Prime Minister Mark Rutte said it was vital to cut red tape and make the most of the single market. EU leaders, meeting in Brussels from Thursday for a two-day summit, said the single market was essential to future economic growth, while highlighting areas for improvement. The conclusions also called for progress in areas to improve the long-term competitiveness of the European Union.
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