EU chief Ursula von der Leyen on Tuesday announced the preparation of a "sovereignty fund" and a Net Zero Industry Act, both intended to defend Europe's industrial base from subsidised US and Chinese competitors.
The European Sovereignty Fund would come as "part of the mid-term review of our budget this year", Von der Leyen said in a speech at the World Economic Forum in Davos. The Net Zero Industry Act is intended to boost clean technologies.
