Germany unveils six-point EU economic reboot plan with “Buy European” push

Germany's Finance Minister and Vice-Chancellor is expected to present a six-point plan to reboot the European Union's economy, which is to include a "Buy European" approach on critical components.

Minister Lars Klingbeil is scheduled to deliver these points during his speech at the Hertie School for Higher Education in Berlin on September 24, Caliber.Az reports citing sources that have revealed this information to Reuters.

He will outline how Germany’s fiscal and investment policy will strengthen its own economy but also contribute to the EU’s future.

In his speech at the Hertie School in Berlin, Klingbeil will press for swift trade deals with partners including India and South America's Mercosur bloc in response to the Trump administration's tariff policies, the sources said.

According to the minister's analysis as cited by Trading View, Europe's economy has to reduce its dependence from China and the USA.

He is scheduled to point out the vastly different measures those two superpowers implement to protect their industries and therefore workforces. It is because of those conditions that Klingbeil is promoting the introduction of a "strategic Industry policy" in regards to the promotion of green future technologies such as hydrogen, lithium batteries and electric mobility.

By Nazrin Sadigova