Facing Trump and China, EU unveils pro-business roadmap [Video]

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, and China rising in key industrial and digital sectors, the 27-nation bloc is under pressure to make life easier for the companies driving its own growth.

“We need to reignite Europe’s innovation engine,” EU chief Ursula von der Leyen told a news conference to present the “competitiveness compass” — the first major initiative of her second mandate.

The European Commission’s recent priorities of climate change and business ethics left many firms complaining about excessive regulation compounding high energy costs and weak investments.

Heeding their call, the EU hopes to get back in the race by turning recommendations made last year by former Italian leaders Enrico Letta and Mario …