
At the end of his trip to Asia, Mertz said that Japan, South Korea and Singapore expressed concerns about trade barriers that may be triggered by the EU's Industrial Accelerator Act.
AI-generated summary
The EU is advancing the Industrial Accelerator Act to strengthen its local industrial base and reduce its dependence on China. The bill raises concerns among non-European trading partners about potential trade barriers.
German Chancellor Mertz said on Friday (October 30) that he would convey the concerns of Asia's major trading partners to Brussels. These partners worry that the EU's "Made in Europe" initiative could evolve into a new form of protectionism.
"There is a fear that we may be facing a new wave of European protectionism, that we are closing the door to other countries," Mertz said in South Korea. South Korea was the final stop on his week-long tour of Asia, which also included visits to Japan and Singapore.
Mertz said he heard similar concerns at all three stops, pointing to the EU's proposed Industrial Accelerator Act. The bill aims to encourage more production and procurement to remain within Europe to strengthen the EU's industrial base.
The proposal is part of a wider EU effort to help local industry compete with overseas rivals while reducing reliance on China. These overseas rivals do not have to comply with Europe's strict regulations or suffer Europe's higher energy costs.
However, the plans have sparked concerns among non-European countries about the potential for new trade barriers.
EU governments and the European Parliament still have to agree on the final text, with approval expected next year.
"I take these concerns very seriously. I will take them not only back to Berlin but also to Brussels. I will certainly raise the fact that these concerns were expressed to me quite strongly here," Merz said.
He added that German and European products could only succeed in Asian markets if the EU remained open to trade.
Mertz used this trip to promote greater cooperation among "like-minded" middle powers to counter the trade and economic policies of the United States and China.
"The fact is that the United States is adjusting its foreign policy and foreign economic policy and redefining its interests. As they do that, we must do the same," he said.
The same goes for defense policy, Mertz added. He is seeking to deepen security cooperation with regional partners.
AI outlook — possibilities, not facts
EU governments and the European Parliament will agree and approve the text of the Industrial Accelerator Act next year.
Likely · Within months

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