EU Boosts Economic Security Plans as US and China Tensions Rise

The European Union unveiled a new plan to make sure its industries aren’t overtaken by global rivals as competition intensifies with the US and China.

The European Commission, the EU’s executive arm, proposed on Wednesday setting up an economic security hub and improving communication with companies in order to better navigate trade tensions and counter the threat of cheap products flooding the bloc’s single market. Next week it is also expected to propose setting conditions around inbound investments such as technology transfers and the use of domestic content and value chains.

The EU has been forced to rethink its geopolitical ...