Former Italian Prime Minister Mario Draghi has called for the European Union (EU) to defend itself against external challenges from China and the United States while avoiding protectionist measures.

He emphasized that the EU is an open economy, with trade accounting for 50% of its GDP, significantly higher than China's 37% and the United States' 27%.

These remarks came after Draghi issued a warning that Europe is facing 'existential' challenges, highlighting the urgency of his message.

Draghi firmly stated that the EU must not mirror the protectionist policies of the United States, advocating instead for a strategy that promotes open trade.

His insights were shared following a request from EU chief Ursula von der Leyen, who sought recommendations on enhancing the competitiveness of the 27-member bloc amid global economic uncertainties.