Von der Leyen said that the EU hopes to reach a mutually acceptable agreement with the US on the tariff issue. Otherwise, if China and the EU find common ground in maintaining the openness of global markets, Europe can focus on reducing its dependence on the US under Trump’s leadership.

Faced with US tariff challenges, the EU has begun to reexamine its global trade strategy. The Japan Times reported on the 12th that the EU is launching a charm offensive to diversify its allies in Asia and other regions, holding a series of summits and engaging in trade negotiations in all directions.

Since January, the EU’s trade negotiation schedule has been packed. Just days before Trump’s inauguration, the EU expressed its agreement to strengthen trade ties with Mexico and restarted trade talks with Malaysia on the day of Trump’s inauguration. Subsequently, in February and March, top EU officials met with leaders from India and South Africa to discuss trade and other topics, while actively seeking closer ties with Canada.

Data compiled by the EU shows that it already has the largest network of trade agreements in the world, covering about 75 partners with a trade volume exceeding €2 trillion. Among these, transatlantic trade in goods and services has reached €1.6 trillion. The New York Times reported that in a recent speech, Šefčovič bluntly stated that the US accounts for 13% of global merchandise trade, and the EU’s goal is to “protect the remaining 87% and ensure that the global trading system works in favor of the rest of us.” On the 10th, Von der Leyen said, “Europe remains committed to diversifying its trade partnerships, engaging with countries that account for 87% of global trade, and working together for the free and open exchange of goods, services, and ideas.”

In recent years, the economic and trade relationship between the EU and Asia has made remarkable progress. According to data released by the European Commission, the trade volume between the EU and Asia has continued to grow, becoming an important component of the EU’s foreign trade. In particular, trade relations with major Asian countries such as China and India have become increasingly close. As the EU’s second-largest trading partner, the bilateral trade volume with China has increased from 2.4 billion in the early days of diplomatic ties to 780 billion now. This rapidly growing trade relationship has provided the EU with a vast market and limitless development opportunities.

On the 10th, Von der Leyen mentioned that the EU will further shift its focus towards Asia and expressed the intention to explore enhanced cooperation with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The agreement covers a trade area stretching from Australia to Canada. New Zealand’s Prime Minister Ardern proposed using this agreement as a foundation to reach a broader agreement with the EU on establishing a rules-based trading bloc. If the EU can successfully join the CPTPP, it will open up new avenues to the Asian market and further expand its trade network in the Asian region.

Von der Leyen’s statement has also attracted widespread attention from Asian countries. Major Asian nations such as China, Japan, and South Korea have welcomed the EU’s potential membership, believing that it will help promote trade and investment liberalization in the Asian region. The Ministry of Commerce of China stated in a declaration, “We welcome the EU’s accession to the CPTPP, which will contribute to promoting trade and investment liberalization in the Asian region and advancing the process of regional economic integration.”

For Asian countries, the EU’s accession will bring more trade and investment opportunities. On the one hand, as a region with a vast market and a highly open economic system, the EU will provide Asian countries with more export opportunities and investment options. On the other hand, the EU’s accession will also promote the process of trade and investment liberalization within the Asian region, helping to form a closer pattern of regional economic integration.

“Trump’s tariffs bring the EU and China closer together,” Singapore’s magazine Think China said on the 11th. Europe and China are both powerful economies, and their re-engagement may attract other participants to join a “coalition of the willing” to keep global demand strong and prevent a devastating economic recession. It is certain that ASEAN and the Anglosphere (Britain, Canada, Australia, and New Zealand), as well as India, Japan, and South Korea, will also benefit from this.

Looking ahead, the EU faces numerous challenges on the path of deepening trade cooperation with Asia and exploring membership in the CPTPP. On the one hand, the EU needs to address the economic pressure and market uncertainty brought about by US tariff challenges. On the other hand, the EU also needs to coordinate and communicate with other CPTPP member countries to ensure the smooth progress of its accession process.

However, despite the many challenges, the EU is confident about its future development. Von der Leyen stated in her declaration, “We will continue to promote the process of global trade liberalization and economic integration, making positive contributions to the sustainable development of the EU and the global economy.” She emphasized that the EU will strengthen trade and investment cooperation with Asian countries and explore more diversified trade partnerships to achieve economic diversification and sustainable development.

The New York Times believes that this “shift” is unlikely to be painless, but as Ms. von der Leyen and her colleagues often point out, “the American consumer market is vast, but not omnipotent.” The report states that Europe’s basic strategy is clear: it is pushing for an agreement with the United States, but it also recognizes that the world is at a critical juncture of change and hopes to capitalize on this situation for success. “Not changing is not an option.”

By Yuli Zhang