Europe needs its own industrial strategy to face up to aggressive support from the US, EU leaders are set to be told on Thursday (18 April) in a report by former Italian premier Enrico Letta, a recent draft of which was seen by Euronews. EU countries could be forced to contribute to fund pan-European initiatives as the bloc faces up to sluggish growth, in a move that may provoke fears of a global subsidy war. “The EU must step up its efforts to develop a competitive industrial strategy capable of counteracting instruments recently adopted by other global powers, such as the US Inflation Reduct…