🇺🇸 Donald Trump · 🇨🇳 Xi Jinping
No seat, no cards at the table: Europe fears being the loser in Trump-Xi deal-making
What happened
European governments are concerned that the US and China may reach an agreement on trade terms, with the costs being exported to Europe. This has arisen after the recent visit of Chinese President Xi Jinping to Washington, which may lead to a pattern of Washington and Beijing bargaining over concessions that affect Europe. European decision-makers fear that the EU has no seat at the table in these negotiations and no control over the cards being played. The EU's deficit with China has reached €1
Why it matters
The potential Sino-American deal-making process may have significant implications for Europe, as it may lead to a situation where the EU is left with the costs of a US-China agreement without having any influence over the terms. This could exacerbate the EU's trade deficit with China and limit European industry's access to critical materials. The outcome may also have security implications, as the US may not pressure China to reduce its support for Russia.
Key facts
- The EU's deficit with China is €1 billion a day.
- European industry is at the back of the queue in access to critical materials.
- The EU has no seat at the table in US-China negotiations.
- The US and China may reach an agreement on trade terms that affects Europe.
Topics
Publisher evidence used
Reporting attributed to businesstimes.com.sg. WorldLeadersNews links readers to the publisher and does not present a headline-only item as a full article analysis.
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