France G7 Summit
French President Emmanuel Macron, right, and his wife Brigitte Macron, left, pose with European Commission President Ursula von der Leyen and her husband Heiko von der Leyen during the G7 summit in Evian-les-Bains, France, Monday, June 15, 2026.
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For eight years, the United States has waged economic war on China, slapping big taxes on Chinese products before they enter America. But the campaign hasn’t dented China’s industrial prowess. The world’s second biggest economy is exporting more products than ever. It’s just redirecting them away from the U.S. tariff wall and toward more open markets in Europe and elsewhere in Asia. The shift in Chinese trade risks creating a European sequel to the China Shock that wiped out hundreds of thousands of factory jobs in the American heartland in the 2000s and contributed to the political upheaval that put Donald Trump in the White House twice.