Just as the EU took initiative with promoting renewable energy centered policies after the Russian invasion on Ukraine in 2022 and came out better off in terms of energy security, a similar pathway should be expected when talking about trade. The recent attacks on cargo vessels bound for the Suez Canal have created challenges for Asian steelmakers, impacting their influence in the European market. Some Asian steel producers have withdrawn from the European market due to increased shipping costs of around $75 per ton and extended delivery lead times resulting from diverted shipping routes around South Africa’s Cape of Good Hope. Major shipping companies, including Maersk, have redirected vessels away from the Suez Canal, the usual route for 15% of…