Interim Agreement on foreign subsidies distorting the internal market
The Council and the European Parliament reached a provisional political agreement on the Regulation on foreign subsidies distorting the internal market.
This creates an instrument to remedy distortions created by subsidies granted by third countries and to restore fair competition between all companies - both EU and non-EU - operating in the internal market.
Among other things, the European Commission is authorised to investigate financial contributions granted by the authorities of a non-EU country to companies doing business in the EU. The co-legislators also decided to retain the notification thresholds proposed by the Commission for mergers and public procurement processes.
BusinessEurope welcomed the agreement and looks forward to efficient and effective implementation of the Regulation to guarantee a level playing field in the single market for all economic actors.
As for the next steps, it requires formal approval by the Council and Parliament to come into force.
You will find this and other key issues in the European news, as well as a look at the main meetings in the European institutions during the week of July 4-8, in our newsletter “The EU in Headlines”.
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