European Commission wants subsidy plan as ambitious as US: “We must act now or we will be too late”

To protect European industry from a potential distortion of international competition, Internal Market Commissioner Thierry Breton is working on measures “similar” to the far-reaching US climate subsidies. “We must react, we must not give up,” Breton said on Tuesday during a working visit to Madrid. “It’s not too late. We need to send a strong signal to our industry.”