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 sides pledged to work together to diversify supply chains, reduce reliance on China, and counter economic coercion. The alliance aims to set a new standard for rules-based international trade and multilateral cooperation.
Leaders also highlighted plans for joint initiatives in rare earth mining, energy security, and innovation.
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