Understanding The EU's New Foreign Subsidies Regulation

On Nov. 10, the European Parliament adopted the Foreign Subsidies Regulation with an overwhelming majority.

This regulation is game-changing as it means that the European Commission can take measures against companies that have received subsidies from countries outside the European Union when those subsidies are perceived to distort the competition in the EU. This is de facto an extension of the already very wide-ranging EU state aid powers to now cover the rest of the world.