The European Union and its companies need to diversify their supply chains to reduce their reliance on individual countries, but that does not mean bringing all production back to Europe, the EU trade chief said on Thursday.
EU leaders last month stressed the need for the bloc to have “strategic autonomy” after the coronavirus crisis, helped by new rules that will enter force in October to screen foreign investments if they involve critical assets or technology.
However European Trade Commissioner Phil Hogan told EU trade ministers on Thursday that this should not mean the European Union aims for self-sufficiency, telling them in introductory remarks that this would be an unattainable goal.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Greece transfers first group of young refugees to EU countriesGreece transferred a dozen unaccompanied children from overcrowded migrant camps to Luxembourg on Wednesday, the first of more than 1,000 relocations that are being expedited amid concerns over the impact of coronavirus on vulnerable groups.
Read more »
EU blasts Trump's WHO funding cut, fears it worsens pandemicHealth experts warn that President Trump’s funding cut to the World Health Organization could harm global efforts to stop the coronavirus. The EU says Trump has “no reason” to freeze the funding but Trump claims the WHO didn't do enough stop the virus.
Read more »
EU Zooms ahead, despite worries over appEU officials are being told to avoid the Zoom conferencing platform over privacy and security concerns — but some still use it anyway
Read more »
EU unveils virus exit plan, hoping to avoid more chaosThe European Union is trying to head off a chaotic easing of coronavirus restrictions across the 27 nation bloc.
Read more »
E.U. Commission president offers an apology to ItalyThe president of the E.U. Commission offers an apology to Italy, saying the country did not receive adequate help at the beginning of the coronavirus pandemic.
Read more »
Some businesses to open in Germany as other EU states find ways to cope with COVID-19Chancellor Angela Merkel and the heads of Germany’s 16 states have decided to maintain the contact restrictions until May 3. Some stores, however will be allowed to open.
Read more »