SEOUL, Oct 30 (Reuters) - German Chancellor Friedrich Merz said on Friday he would relay to Brussels concerns voiced by key Asian trading partners that the EU's "Made in Europe" initiatives risk becoming a new form of protectionism.
"There is a fear that we might be facing a new wave of European protectionism — that we are closing ourselves off from other nations," said Merz in South Korea, the last stop on a week-long trip that also took him to Japan and Singapore.
Merz said he had heard similar concerns at all three stops about the EU's proposed Industrial Accelerator Act, which is intended to strengthen the bloc's industrial base by encouraging more manufacturing and sourcing within Europe.
The proposal is part of broader EU efforts to help local industries compete with overseas rivals that do not face Europe's stringent regulations and higher energy costs, while also reducing reliance on China.
However, the plans have fuelled concerns among non-European countries about the potential emergence of new trade barriers.
EU governments and the European Parliament must still agree on a final text, with approval expected next year.
"I take these concerns very seriously. I will carry them back not just to Berlin, but also to Brussels, and I will certainly raise the fact that these concerns were expressed to me quite forcefully here," Merz said.
He added German and European products could succeed in Asian markets only if the bloc remained open to trade.
The chancellor used the trip to promote closer cooperation among "like-minded" middle powers as a counterweight to the trade and economic policies of the US and China.
"The fact remains that the United States is shifting its foreign policy, its foreign economic policy, and redefining its interests. As they do so, we must do the same," he said.
The same applied to defence policy, Merz added, as he seeks to deepen security cooperation with regional partners.
(Reporting by Andreas Rinke. Writing by Miranda Murray. Editing by Kirsti Knolle and Mark Potter)
