An Economic Security Doctrine For Europe

"European trade policy must not itself become unpredictable in an increasingly uncertain geo-economic environment. In order to reduce its economic vulnerability to blackmail, the EU must focus on a balance between resilience and reliability. To this end, it should develop guidelines for the rule-based and coordinated use of measures such as protective tariffs," says cep economist and study author André Wolf.

In the long term, the key to greater economic security lies in intensifying strategic partnerships. In addition to more cooperation in trade and research, a vision for the future is needed as a unifying element. "A joint roadmap for global leadership in future technologies such as advanced materials or biotechnology could be highly attractive for potential partners," emphasises Wolf.

According to the cep researcher, the EU should further develop its strategic partnerships into economic security clubs in order to increase their effectiveness. The defining element of these would be the close coordination of trade defence measures with suitable partners such as Japan, South Korea or Australia - while at the same time being open to other players. "This is the only way the EU can stand up to the coming economic risks," Wolf continues.