Just to clarify: of course the EU is entitled to deal with China without consulting and teaming up with the US.

The only question is whether going it alone is more promising, more likely to advance the EU’s economic and strategic goals.

Trump was not interested in dealing with China together with Europe. Biden by contrast keeps saying that he wants to coordinate China policy closely with the Europeans. There is a chance now for US and Europe, who have similar concerns about China, to build a broad coalition.

Of course Beijing has every interest in preventing this strategic alignment to happen. Which is why it made suddenly concessions to the EU in order to conclude the investment treaty, as a means to derail EU-US cooperation.

Based on these considerations, many critics now argue that the EU should have waited a few more months in order to see whether there is a chance to align policies with the US, in order to better achieve the EU‘s economic and political goals.

These talks with the US will still take place, but there will be disappointment in the Biden team about what they will perceive as early snub. At the same time, ongoing EU talks with Beijing about the investment agreement will offer China opportunities to torpedo US-EU alignment.

Building coalitions with likeminded partners is what powerful actors do. Waiting for the Biden administration to settle in would not have been a sign of weakness but a sign of strength. Hastily taking the carot from China doesn’t make the EU look very sovereign.