The European Union and Japan are to work more closely together to secure the supply of semiconductor chips. The commitment will enable both sides to benefit from the other’s research and expertise as well as open the door to more mutual investment. Rising geopolitical tensions have prompted several major economies to replace some of their trade with China – a move known as ‘de-risking’. In a separate development, EU member state Spain is hoping to use its presidency of the EU council to push through a trade deal with the South American Mercosur trading bloc.
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