By Lena Sandberg and Yannis Ioannidis (August 23, 2022, 5:21 PM BST) — The European Commission proposed a new regulation, the Foreign Subsidies Regulation, on the grant of distortive subsidies from foreign governments outside the EU to companies active within the EU.
On June 30, the Council of the European Union and the European Parliament reached a provisional political agreement on the final text of the regulation, which is expected to be formally adopted by the council within the next few months.
First, the regulation gives the commission the power, on its own motion, to require companies operating in the EU that have received a foreign subsidy considered to distort competition in the EU…
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