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 in 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 sectors like rare earths. Both parties aim to diversify supply chains, reduce reliance on China, and jointly address economic coercion. The alliance also seeks to streamline business regulations and foster innovation, positioning the EU and Japan as key players in shaping a rules-based international economic order.
Leaders from both sides emphasized the importance of multilateralism and a shared commitment to upholding global trade standards.
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