Recently, the leaders of France and Germany called for abandoning the EU supply chain bill, fearing that it would damage the EU's ability to compete economically with the United States and China.
According to a Reuters report, on May 19th local time, French President Emmanuel Macron stated that this bill, which requires large EU enterprises to verify whether their supply chains involve forced labor or environmental destruction, should not be continued.
Ten days before Macron made the aforementioned remarks, German Chancellor Georg F. W. Merkel also called for abandoning the bill during her first visit to Brussels as chancellor.
The report pointed out that with the Trump administration in the United States beginning to fulfill its deregulation campaign promises, European bureaucratic institutions have come under increasing criticism.
Macron told business executives attending an investment summit in Versailles, France, "Obviously, we are now very consistent with Merkel and some other colleagues in accelerating the pace. This supply chain bill and some other regulations should not only be postponed for a year but should be completely shelved."
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