American–European Unity against China Is Indispensable

It is obvious where the impetus for the new European Commission to spend €100 billion on “European Champions” through the European Future Fund comes from. Europeans are at the end of their tether with President Trump and U.S. threats to impose tariffs on imports from the E.U.

Industrial policy, furthermore, seems to be regaining its intellectual legitimacy on the political left and right. Why should scruples hold Europeans back in the global economic competition?