AI, biotech and affordable clean energy will be the focus of an EU drive to make the bloc globally competitive and ensure it keeps pace with rivals the United States and China, according to a draft European Commission paper seen by Reuters. The European Union is under pressure from member countries like France to simplify regulations around doing business, and is also facing fresh challenges with the new administration of President Donald Trump. Trump, who is promising to roll back U.S. corporate rules, weighed in on the debate over red tape at the annual Davos meeting of the world’s business elite this week, urging the EU to reduce regulations. He is also threatening to impose new tariffs on EU exports to the United States.
The European Commission paper is a draft of proposals – a Competitiveness Compass – to be presented on Jan. 29. It outlines 29 planned measures and strategies over the next two years to raise productivity through innovation and to decarbonise its manufacturing. “It is time to turn to action,” the draft paper says. “Without an urgent shift in gear and approach, the EU’s future as an economic powerhouse, an investment destination and a manufacturing centre is at stake.”

Full report : EU to target AI, biotech, cheap energy in global competitiveness push.