A European Industrial Policy Is Bad News for the U.S.

The U.S. Should Oppose the EU’s Turn Toward Industrial Policy, Heritage Foundation Issue Brief #5004, September 24, 2019. "The EU is moving towards the adoption of an industrial policy that, while aimed primarily at the People’s Republic of China, is also motivated by resentment of the United States. Industrial policy is the wrong tool for addressing the problems posed by China’s rise, and the European support for the creation of so-called “European champions” in industry is deeply hypocritical. The U.S. must vigorously oppose the EU’s turn toward industrial policy and must emphasize that what the U.S. and the EU need are higher levels of economic growth, the prospects for which will only be damaged if the EU pursues industrial policies that damage its economy and further alienate the United States."