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 through joint initiatives.
Leaders from both sides reaffirmed their commitment to a rules-based international order and multilateral cooperation at their 30th summit in Tokyo.
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