The EU’s trade policy is trending away from China and towards the U.S. An update to the EU’s industrial policy is aimed at increasing its strategic autonomy and includes measures to factor state aid in non-EU countries into trade policy measures. That will likely target countries such as China with large state-owned enterprises. The European Parliament has also frozen ratification of the Comprehensive Agreement on Investment with China citing a need for “rebalancing EU-China relations”. At the same time relations with the U.S. have thawed with proposals regardi...