As Trump brings the EU and China closer, reality keeps pulling them apart
Is China an "essential partner" to tackle the greatest challenges of our time or the "key enabler" behind the largest armed conflict on European soil since 1945?
At this stage, it just depends on who you ask.
The return of Donald Trump to the White House has unleashed seismic changes across the globe, forcing nations to re-evaluate their alliances and rivalries in desperate search of shelter against the president's go-for-broke policies.
His sweeping tariffs, in particular, have deeply unsettled governments, which are now seriously contemplating if the trade flows and supply chains on which they have relied for the past decades are about to crumble overnight, wreaking untold havoc.
For the European Union, an export-oriented powerhouse and staunch advocate of free markets, the Trump tariffs have hit like a slap in the face. Despite the White House's surprise reversal, the bloc will still be subject to the 10% baseline rate. Additionally, steel, aluminum and cars will be under a punishing 25% levy. Trump has threatened further duties on foreign-made pharmaceuticals, a precious sector for the Europeans.
With transatlantic relations plunging at a vertiginous pace and the American market becoming increasingly prohibitive, Brussels is on the hunt for economic opportunities that can offset, even if partially, the shockwaves unleashed by Trump.
China has quickly emerged as a prospective option.
Thanks to a vast middle class that is increasingly wealthier and, therefore, increasingly able to afford foreign-made goods, China represents a lucrative business partner that can provide European companies with new clients and fresh investment – exactly what they need at a time of stagnant growth at home and political turmoil abroad.
In 2023, the US was the top destination for EU-made goods (€501.9 billion) followed by China (€223.5 billion), according to Eurostat. However, China brought the largest share of goods into the bloc (€516.2 billion) after the US (€346.7 billion).
It was telling that a few days after Trump showed up at the Rose Garden and unveiled his self-styled "reciprocal tariffs", Ursula von der Leyen held a phone call with Chinese Premier Li Qiang to discuss bilateral issues and the state of the global economy.
"In response to the widespread disruption caused by the US tariffs, President von der Leyen stressed the responsibility of Europe and China, as two of the world's largest markets, to support a strong reformed trading system, free, fair and founded on a level playing field," the European Commission said in its official read-out.
The version released by Beijing was notably more optimistic and highlighted a "momentum of steady growth" in ties. "China is ready to work with the European side to promote the sound and steady development of China-EU relations," Li told von der Leyen.
The exchange, peppered with explicit criticism of Trump's policies (Li called them "economic bullying"), immediately fuelled speculation that the leaders were carefully planting the seeds for a rapprochement.
Von der Leyen, who during her first mandate spearheaded a new policy to de-risk from China, has in recent months softened her tone. Now, the Commission chief prefers to speak about a "transactional" foreign policy to "engage constructively" with Beijing.
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