EU chief Ursula von der Leyen on Tuesday announced preparation of a “sovereignty fund” and a “Net Zero Industry Act” to defend Europe’s industrial base from massive US and Chinese subsidies.
The European sovereignty fund would come as “part of the mid-term review of our budget this year,” she said in a speech at the World Economic Forum in Davos, while the “Net Zero Industry Act” would aim to boost clean tech in the bloc. — Agence France-Presse