The European liberal political family is urging EU leaders to form a pact with Japan, Canada, and South Korea to deter U.S. President Donald Trump and China from exerting undue pressure on trade partners, according to a paper seen by POLITICO.
In what is dubbed a “Geoeconomic Deterrence Pact” addressed to EU leaders ahead of a summit in Brussels on Thursday, the liberal Renew Europe group in the European Parliament asks the Commission “to identify and negotiate joint export control agreements” by the end of 2026. The paper will be published late Wednesday and sent to EU leaders.
“This pact will map shared critical dependencies (e.g., semiconductors, rare earths) and propose mutual response clauses in trade deals to deter coercion from the US or China. If one country is attacked by aggressive tariffs, all countries should react,” the paper reads.