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German Giants Gird Against Flawed Industrial Act
Germany's steel industry has strongly criticized the European Commission's Industrial Accelerator Act. The proposal includes a 25% quota for green materials but fails to require European sourcing for steel. Industry leaders warn this omission undermines domestic producers while benefiting overseas competitors. They point to US and Indian policies that link public procurement to local production. thyssenkrupp Steel's CEO argues the act, as drafted, supports investment outside Europe rather than within. Federal ministers express concern about added bureaucracy but remain divided on local content requirements.
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