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 have pledged to work together to diversify supply chains, reduce reliance on China, and counter economic coercion. The alliance also aims to streamline business regulations and explore joint initiatives in innovation and energy security. Leaders from both regions reaffirmed their commitment to a rules-based international order and multilateral cooperation.
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