A third pillar of trade? EU-CPTPP co-operation

Research evidence excerpt

A third pillar of trade? EU-CPTPP co-operation

Economics ● Global

9 June 2026

The EU and CPTPP

A time for new alliances

Following various trade crises in recent years and as trade relations between the world and

New alliances are forging in

US/China become more strained and unpredictable, supply-chain resilience has risen as aresponse to trade crises

priority. In the US, tariffs have been increasingly used to tackle both trade and non-trade

objectives. Frequent policy changes have increased uncertainty and forced businesses to adapt

quickly. Meanwhile, China’s overcapacity in certain industries, such as autos, steel and critical

minerals, heightened concerns about market power, competitive pressures, and import

dependency. These pressures are intensified by the US’s WTO Appellate Body blockade,

undermining the effectiveness of the global rules-based trading system, and difficulties

advancing multilateral negotiations.

Against this backdrop, some of the so-called ‘middle powers’ are forging strategic alliances in an

increasingly fragmented world. This is where the EU and members of the Comprehensive and

Progressive Agreement for Trans-Pacific Partnership (CPTPP) come in. At the 2026 World

Economic Forum, Canadian PM Mark Carney said in his speech that Canada is “championing

efforts to build a bridge between the Trans Pacific Partnership and the European Union”,

emphasising the need to build different coalitions to counter the rise of hard power as the rules-

based order weakens.

The middle powers must act together, because if we’re not

at the table, we’re on the menu.  Mark Carney, Prime Minister of Canada

In practical terms, co-operation between the EU and CPTPP is already taking shape, though a

EU and CPTPP are deepening

formal trade deal is some way off yet.