The European Union and Japan have announced 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 earth minerals. Both sides pledged to work together to diversify supply chains, reduce reliance on China, and counter economic coercion. The alliance also aims to foster innovation, streamline business regulations, and reinforce a rules-based international order.
Leaders emphasized the importance of multilateral cooperation and a united front in addressing global economic and security challenges.
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