In geoeconomic times, EU trade and industry should remain sources of creation toward reglobalisation

In apical geoeconomic times, the EU – whose economy relies heavily on trade openness – sees its economic competitiveness and resilience being structurally eroded. In this context, the EU recently adopted the European economic security strategy, striking a delicate balance between trade openness and protection from related risks based on the fundamental alignment across its trade and industrial policies. To continue taking advantage of the benefits of a more integrated single market – with an outward-looking industrial policy and facilitated intra-EU trade – as well as of open trade as adjusted to strategic autonomy, it is crucial for the EU to continue conceiving trade and industry as sources of preservation and – critically – also of creation for the longer term driven by reglobalisation.