Thursday, June 10, 2021
From the strategy, it appears the EU no longer sees free trade deals as an end in themselves but as another instrument -- alongside tools such as Carbon Border Adjustment Measures (CBAM) and the International Procurement Instrument -- to protect the internal economy and enhance the EU’s global influence on climate change, human rights and labour standards.
- The EU’s increasingly protectionist trade agenda risks creating political tensions with trade partners.
- Closer EU-US cooperation on trade, among other areas, would weaken the prospects for stronger EU relations with China.
- As old industries die, the population ages and the EU moves towards digitisation, Europe could become more dependent on foreign innovation.