The Trump-Xi Summit Brings More Problems Than Solutions for Europe

The 2026 Trump-Xi summit marginalizes Europe by establishing bilateral trade and investment frameworks that favor US firms over European competitors. This 'G2 bilateralism' poses significant risks to European industrial exports and semiconductor supply chain security.

Key Takeaways

• 1.The bilateral board of trade established at the summit acts as a managed trade framework that redirects Chinese demand toward US goods, hurting European exporters.
• 2.US firms, particularly in financial services and biopharma, are expected to receive preferential investment access to the Chinese market that excludes European competitors.
• 3.The US may allow Chinese investment in renewable energy to power AI compute for hyperscalers, creating a cost advantage for the US at the expense of European industry.

Table of Contents

• ASIA MACRO INSIGHTS
• The Trump-Xi summit brings more problems than solutions for Europe
• Natixis CIB Research
• Head of CIB Research
• Chief Economist, Asia Pacific
• Emerging Asia
• Greater China
• Japan, Pacific
• Asia Pacific, Thematic Research
• Disclaimer

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