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 develop key resources and technologies. The alliance also seeks to uphold a rules-based international order and counter economic coercion.
Leaders from both sides emphasized the importance of multilateral cooperation and innovation to navigate the current fracturing global trade landscape.
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