Geoeconomics and foreign economic policy: Quo vadis EU?

The global economic environment has changed fundamentally over the past decade. Growing protectionism and geoeconomic tensions pose a major challenge, especially for the EU, whose foundations are based on openness, multilateralism, and cooperation. This policy brief presents four basic propositions on the future direction of the EU's foreign economic policy. In addition to the security implications of economic interdependence, it discusses the role of firms in shaping resilient supply chains, the case for industrial policy in strengthening economic security, and the importance of European unity for geoeconomic competition.