European Union ministers are urging their leaders to take action to boost the bloc’s competitiveness as they face growing pressure from the United States over tariffs and trade policies.
The issue comes as the US-China tech race heats up, with both nations vying for dominance in emerging markets. EU officials stress that unity and economic strength are crucial in countering US moves.
Key areas of focus include reducing energy costs and regulatory burdens on EU industry to make it more competitive. This includes exploring ways to simplify rules and regulations to facilitate business growth.
The EU’s response to US tariffs is seen as a key test of its economic resilience, with ministers emphasizing the need for collective action. A unified approach can help level the playing field and protect European businesses from unfair trade practices.
As the US-China tech battle intensifies, the EU must find ways to stay ahead in the global market. With a focus on reducing costs and simplifying regulations, EU leaders can take steps to boost competitiveness and ensure economic strength.
Source: https://www.reuters.com/markets/europe/eu-ministers-see-trump-wake-up-call-fix-economy-2025-01-20