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EU’s foreign-subsidy powers kick in amid debate and fears of red tape
25 July 2023 00:00
The European Union has new powers to police subsidies handed out by foreign governments — powers designed to ensure that state support doesn’t distort merger activity and public procurement. However, with new powers comes great responsibility — and a solid supply of red tape. The European Commission will also be able to open investigations into state subsidies of its own initiative — yet achieving the goal of a level playing field may yet prove elusive.