China’s charm offensive did not last long

 

Xi Jinping has abandoned all pretence of a combined Sino-European front to defend world trade against Donald Trump.

It would be more accurat to say that he has joined the kill, sharpening his tools of coercion and activating China’s rare-earth weapon against Europe just as aggressively as he has against his American nemesis.

Europe now finds itself in an economic war on two fronts at once. 

The Trump ordeal is the lesser of the two. American tariffs on EU goods look likely to settle at 15pc, with a few carve-outs but also prohibitive tariffs on steel, aluminium, and (later) pharma.

Such a level is not as harmless as euphoric markets seem to imply.

Ambrose Evans-Pritchard Telegraph  25 July 2025

https://www.telegraph.co.uk/business/2025/07/25/europe-economic-war-two-fronts-china-greater-danger/


 


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