The European Union and Japan have launched a new Competitiveness Alliance, deepening their partnership to promote free and fair trade, strengthen economic security, and enhance cooperation on technology and defense.
This move comes amid rising global trade tensions, particularly with the US imposing tariffs and concerns over China's trade practices and dominance in critical supply chains like rare earths. Both sides pledged to work together to counter economic coercion, diversify supply chains, and reduce reliance on single suppliers. The alliance also aims to foster innovation, streamline business regulations, and explore joint ventures in key sectors.
Leaders emphasized their shared commitment to a rules-based international order and multilateral cooperation.
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