Briefing - Trade on the European Council agenda - 18-03-2025
The repeated crises of recent years, including the COVID pandemic and the Russian war on Ukraine, have disrupted trade relations in many ways. Competition on global markets has become fiercer and the rules-based multilateral order established after World War II is increasingly challenged. The tariffs imposed by the new United States (US) administration are adding to the uncertainty. Trade in goods and services accounts for 22.4 % of EU GDP – the EU is the world's biggest trading bloc and top trading partner for 80 countries. Trade is thus crucial for the EU's growth and competitiveness. In that context, the development of a robust trade policy, enabling the EU to defend itself effectively against unfair trade practices and to level the playing field, has become a core priority for EU leaders. Consequently, trade – an issue traditionally in the hands of the European Commission – has grown in importance on the European Council agenda in recent years. Developing a bold trade policy is also one of the core elements of the New Competitiveness Deal, which was discussed at the EU leaders' special meeting in April 2024. The importance of EU assertiveness on the global stage to defend its trade interests was underlined in the European Council's 2024-2029 Strategic Agenda, the document setting out the EU's direction for the current 5-year term, as well as in the Budapest Declaration of November 2024. It is in light of recent developments that EU leaders will discuss trade at their 20-21 March meeting in Brussels.
Source : © European Union, 2025 - EP