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EU Plans To Examine US Aid To Automakers

Law360 (November 14, 2008, 12:00 AM EST) -- The European Union reportedly plans to take a hard look at any U.S. government aid to the struggling auto industry to make sure it doesn't harm foreign competitors.

Congress signed off on a $25 billion government aid package in September to the Big Three automakers, and Democrats are pushing Congress for an additional $25 billion to prevent the companies from landing in bankruptcy.

Peter Power, trade representative for the European Commission, told Dow Jones on Friday that the competition watchdog would review whether the U.S. aid...
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