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Threatened Audi Plant Closure Sparks Broad Brussels Protest.
- Source :
- Bloomberg.com; 9/16/2024, pN.PAG-N.PAG, 1p
- Publication Year :
- 2024
-
Abstract
- Thousands of workers gathered in Brussels to protest the possible closure of an Audi car factory, with participants from Belgium and the Czech Republic. The demonstration aimed to show solidarity with Audi employees and called for an end to Chinese "dumping" of industrial products. The protest reflects concerns that European industries may be lost as the continent leads in the climate transition and faces competition from cheaper foreign competitors. The European Commission President has promised a "Clean Industrial Act" to support decarbonization, but it is unclear if it will be accompanied by significant financial support. The bloc is also considering imposing tariffs on Chinese-made electric vehicles. Former European Central Bank President Mario Draghi has called for significant investment to maintain the bloc's competitiveness. Business groups are urging the EU to reduce red tape and lower energy costs, while the automotive lobby is considering requesting a delay in emissions targets. Brussels has become a focal point for unrest during the green transition, with farmers protesting over costs and environmental regulations. The challenge for the European Commission President will be to balance green goals with economic sectors' interests. [Extracted from the article]
Details
- Language :
- English
- Database :
- Complementary Index
- Journal :
- Bloomberg.com
- Publication Type :
- Periodical
- Accession number :
- 179671195