EU-Japan Pact to Counter Economic Coercion

The European Union and Japan are aligning to strengthen their collective stance against economic coercion and unfair trade practices, as announced by European Commission President Ursula von der Leyen. This announcement was made post an EU-Japan summit with Japanese Prime Minister Shigeru Ishiba.

With the EU facing challenges to finalize a trade deal with the United States, this development follows Japan's recent agreement with the U.S. that involves reducing tariffs on auto imports. The EU and Japan are aiming to enhance economic security and promote global competitiveness.

Additionally, both parties have resolved to maintain a rules-based economic order and are initiating talks to fortify defense industry ties. Discussions will also commence on crafting a comprehensive information security agreement between Japan and the EU.

(With inputs from agencies.)