For decades, the European Union positioned itself as one of the world’s most vocal champions of open markets and rules-based trade. Brussels urged governments across the developing world to liberalise, limit industrial subsidies and respect the commitments of the World Trade Organization.
The U.S., EU and their allies are racing to secure supplies of rare earth elements - essential materials for electric vehicles, wind turbines and advanced technologies - as China maintains a dominant position in processing.
The European Union and Washington are nearing an agreement to coordinate the production and security of critical minerals, Bloomberg News reported on Friday (10 April).
The European Parliament on Monday (23 February) postponed a vote on the EU’s trade deal with the U.S. after President Donald Trump imposed a blanket 15% import duty.
Some Japanese firms are voicing concern over U.S. trade policy uncertainty, fearing it may impact profits and production, the BOJ said. Despite a steady recovery across regions, global trade tensions continue to cast a shadow over Japan’s outlook.
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