EU Is Beginning To Pay The Price Of Rising US-China Tensions

The European Union (EU), the U.S.' closest ally, is beginning to pay the price of the growing tensions between Washington and Beijing.

Last week, Germany, the EU's largest economy, reported an annual decline of 11.3% in its exports to the world's second-largest economy over the previous four months of 2023. Moreover, it helped push the German economy closer to a recession.

The decline in trade between China and Germany is further confirmed by Chinese data, which showed that during the first four months of the year, China's imports from Germany...