Can the EU Hold Back the Great Tech Decoupling?

Summary:

US leaders frequently describe America’s rules on trade with China as imposing a “small yard with a high fence”. Rather than decoupling the US and Chinese economies, Washington says it is only interested in stopping exports to China for a limited number of sensitive goods. Washington is, however, steadily expanding the size of the yard – and the fence is increasingly entangling European firms including, most recently, German companies Zeiss and Trumpf. To protect its interests, the EU should adopt the recent recommendations of former Italian prime minister Enrico Letta to develop a single European approach to economic security – and pressure Washington to keep its yard small.

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