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AP National Business

EU moves on clean technology: Subsidies up, free market down

KTVZ
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Published 4:48 am

By RAF CASERT
Associated Press

BRUSSELS (AP) — The European Union has presented plans to fundamentally revamp its policies on promoting clean technologies and dealing with its lack of critical raw materials. It wants to impose limits on imports from countries like China while unleashing subsidies and other financial incentives to ramp up home production. The plans presented by the European Commission on Thursday are essential in moving toward a climate neutral economy while also increasing the bloc’s strategic independence in a shifting world of geopolitical alliances. The lynchpin in the proposal is a commitment to produce at least 40% of the clean tech needed by 2030 in the 27-nation EU.

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