As Europe turns its competitiveness ambitions into policy, competition rules are being asked to accommodate a more active industrial and trade agenda without losing sight of open markets. The Commission’s overhaul of its merger guidelines has brought investment and resilience more firmly into focus. At the same time, changes to state aid and foreign subsidies control are creating more opportunities for public support, along with tighter scrutiny of support from abroad. Should merger control internalise concerns around Europe's dependencies or risks of falling behind? Does the EU need to better employ incentives, and not just controls, to compete with other global powers? Meanwhile, evolving economic security and trade tools show that competition policy exists as a part of a wider agenda.