Germany and five other EU countries have told allies they will block the bloc’s next seven-year budget unless cut by hundreds of billions of euros, according to a letter seen by the Financial Times. Denmark’s business and competitiveness minister Martin Lidegaard warned against excessive protectionism, stating it is "hard to be a liberal these days" as Brussels embraces "Made in Europe" requirements and scrutinizes foreign investments. Lidegaard, appointed in June, emphasized his long-standing support for free trade and cautioned that overzealous restrictions could deter all investment.

He acknowledged China’s trade surplus with Europe makes the status quo untenable but urged a new balance: identifying critical domestic production needs while increasing internal market competition. Meanwhile, European energy ministers met in Dublin to address energy security amid oil prices above $100 a barrel, low gas storage, and threats of diesel export cuts from the US. Energy Commissioner Dan Jørgensen warned of Europe’s "worst winter" since 2022, urged demand reduction measures like limiting public building temperatures, and postponed new methane import rules.

The IEA’s Fatih Birol was set to address the meeting on potential government actions.