The European Commission presented on Wednesday its plans to reverse industrial decline in the bloc and step up efforts to compete with the United States and China in new fields such as AI, and to lower energy costs and cut red tape.

The EU unveiled a much-anticipated blueprint to revamp Europe's economic model on Wednesday, marking a shift towards a more business-friendly Brussels after five years of heavy focus on green goals.With US President Donald Trump promising tariffs and a gargantuan AI push,

Donald Trump is threatening to impose or raise tariffs on cars being imported into the US. How is the world reacting?

The EU, the U.S. and Japan already teamed up in Trump’s first term to counter the competitive threat posed by China.

EU member states have been told to review transactions that have taken place since January 2021 in areas where these technologies have formed part of overseas investment. They must submit a progress report in July and a comprehensive risk assessment a year later.

The European Commission will publish its Competitiveness Compass today in an attempt to secure the future EU economy. #RadioSchuman

The European Union needs to do more to keep up with the US and China, according to Economics Commissioner Valdis Dombrovskis.

The European Commission filed a complaint at the World Trade Organization on Monday against what it said was China's "unfair and illegal" practice of setting worldwide royalty rates for EU standard essential patents without the patent owner's consent.

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BMW said in a statement that EU duties on battery electric vehicles “harm business models of globally active companies.”

Elon Musk's Tesla and German auto giant BMW have challenged EU import tariffs on China-made electric vehicles at the bloc's top court, the European Commission said Monday.