The European Commission has presented a sweeping industrial strategy aimed at shielding key sectors from foreign competition and limiting China’s access to EU public funding and investment opportunities.

EU Industry Commissioner Stéphane Séjourné unveiled the Industrial Accelerator Act in Brussels on Wednesday, describing it as a response to mounting global uncertainty and what he called unfair competition. The plan introduces a “European Preference” designed to direct taxpayer-funded support toward companies producing within the bloc.

The initiative follows significant job losses across Europe’s manufacturing base. Since 2024, around 200,000 jobs have been lost in energy-intensive industries and the automotive sector. Projections suggest up to 600,000 additional losses in car manufacturing over the coming decade, as Chinese exports increase and foreign-owned plants generate limited local employment.

The strategy focuses on three strategic sectors: clean technologies, automotive manufacturing and energy-intensive industries such as aluminium, steel and cement. Under the new framework, products benefiting from EU public funding will need to meet “Made in Europe” thresholds. Electric vehicles must contain at least 70 percent EU content, with some exceptions for battery components. Aluminium and cement products will be subject to a 25 percent EU-content requirement.

Séjourné said the measures would strengthen supply chains, reduce dependencies and enhance economic security. He argued the plan would create jobs by ensuring public money supports domestic production.

The proposal has exposed divisions among member states. Nordic and Baltic countries cautioned that stricter rules could deter investment and restrict access to foreign technology. Germany advocated allowing goods from trusted trade partners to qualify under the European label, while France supported a tougher stance.

The Commission has proposed that products from countries with reciprocal free trade agreements with the EU could be treated as EU-origin in public procurement. This would exclude China and the United States, which do not have such agreements with the bloc.

Stricter conditions are also planned for foreign direct investment exceeding €100 million in sectors including batteries, electric vehicles, solar panels and critical raw materials. Investors from countries holding 40 percent of global market share in a given sector would be required to ensure at least half of jobs go to EU workers. Additional conditions include limits on foreign ownership, joint ventures with European partners, technology transfers and commitments to research and development within the bloc.

The proposal will now move to the European Parliament and the Council for approval as debates continue over how best to balance openness with industrial protection.

The Persian Gulf is currently characterised by hostilities. The Strait of Hormuz is closed to shipping, with only vessels connected to China or Russia allowed to pass. The escalating crisis in the region has left thousands of tourists stranded on cruise ships and disrupted air travel.

On Sunday afternoon, a missile struck the water near the Mein Schiff 4, operated by TUI Cruises, while the ship was docked in Abu Dhabi, United Arab Emirates. Clouds of black smoke were reported over the water, according to the Bild newspaper. The vessel carries approximately 2,500 passengers and 1,000 crew members, with many due to return to Germany from Dubai. The situation on board is tense, and it is not yet clear if anyone was injured.

Security measures on the ship remain strict. Passengers are prohibited from entering outside decks, are advised to avoid windows, and receive regular alerts on their smartphones about potential incoming missile threats.

A sister ship, Mein Schiff 5, berthed in Doha, Qatar, is also affected. Passengers attempting to fly home from Doha on Saturday were forced to return to the ship after flights were canceled. Many had already boarded aircraft and had to leave luggage at the airport, waiting around ten hours before being taken back to the ship in the evening.

Other cruise lines are similarly affected. Six vessels are currently docked across ports in Dubai, Abu Dhabi, and Doha. These include the MSC Euribia from MSC Cruises, the Celestyal Discovery and Celestyal Journey from Celestyal Cruises, and the Aroya from the Saudi operator Aroya Cruises.

The closure of airspace in multiple countries in the region has compounded the situation, preventing passengers from flying home. Thousands remain stranded, unsure when they will be able to continue their journeys or be evacuated safely.

The crisis follows US and Israeli strikes in the region on Saturday, which prompted retaliatory attacks by Iran targeting military positions in the Persian Gulf. Cruise passengers, many of whom expected a calm holiday, have instead faced a sudden escalation in regional tensions.

Authorities in ports and embassies are coordinating with shipping companies to maintain safety and provide updates, but the rapidly evolving security situation has made evacuation and travel plans uncertain. Tourists are advised to follow official guidance and avoid unnecessary movement on or around their vessels.

The disruption highlights the wider impact of escalating hostilities in the Gulf, affecting not only commercial shipping but also tourism and international travel. Passengers on affected cruise ships and flights face prolonged delays as authorities work to stabilize the situation and ensure safety in the region.