EU Finally Has a Plan to Fend Off the US and China, But It’s Running Out of Time

Workers at the blast furnace during the iron smelting process in Duisburg, Germany.Photographer: Krisztian Bocsi/Bloomberg

Supply Lines is a daily newsletter that tracks global trade. Sign up here.

The European Union is fighting to salvage industries under threat from American and Chinese competitors that have eroded the defense and economic systems upholding the continent for 70 years.