EU plans to remove internal barriers to boost competitiveness and counteract US tariffs

From Yahoo Finance: 2025-05-21 09:09:00

The European Commission plans to remove barriers to business within the EU to boost competitiveness and counteract U.S. tariffs. Internal barriers are estimated to be equivalent to 44% for goods and 110% for services. The Commission will target “terrible ten” barriers, including limited recognition of professional qualifications and fragmented packaging rules.

To encourage businesses to choose Europe, the EU executive will propose measures to allow smaller companies to scale up across the bloc. However, member states must adopt laws to open up sectors dominated by domestic interests. The Commission aims to increase cross-border trade in services by opening up various sectors like construction, telecoms, and financial services.

The Commission will push for greater use of QR codes on labels for product information and against producers restricting retailers from selling in certain countries. They will also encourage coalitions of willing EU members to free up regulated professions, reducing reporting requirements to cut costs for mid-cap companies. Rules discouraging growth for companies expanding beyond 250 employees will be reduced.



Read more at Yahoo Finance: EU targets business barriers to enhance competitiveness amid US tariffs