A “yes” to “local content” comes from the German Steel and Metal Processing Association (WSM). The association, which has always advocated free trade, sees this as the only way forward in the face of international barriers.
© WSM
“We must respond appropriately to the trade policy from the US and China that is directed against European industry: with broad European local content regulations – including for the private procurement sector. They secure production and value creation, jobs and tax revenues for a resilient Europe,” says WSM Managing Director Christian Vietmeyer. In a statement, the association calls on the government to lobby Brussels for a framework in line with “Buy European” that is binding, practical and strategically oriented. And brings back fairness.
“Our desire does not arise from protectionist goals, but from realism. We must not be naive,” says Vietmeyer. The WSM sees a broad EU content requirement as the only option as long as EU producers have significantly worse competitive conditions globally.
With a view to local content, the WSM is also calling for premiums to be given exclusively to e-cars manufactured in Europe. “It makes little sense for other economies to benefit from subsidies financed by local taxpayers. The funds should benefit the European economy,” says WSM President Ulrich Flatken.
The WSM understands the concerns about local content in terms of implementation and potential trade conflicts. For the association, however, a modern local content strategy is not a retreat from global trade, but a means of countering market distortions and maintaining innovative strength in Europe. The approach should be coordinated at European level and integrated internationally. And at the same time protect supply and value chains.
Web:
www.wsm-net.de
