European Companies Caught in Crossfire of US–China Tensions, EU Business Head Says

The business leader points to China’s export controls on rare earth elements as a major source of trade disruption.

European Union flags fly outside the European Commission headquarters in Brussels on March 1, 2023. Johanna Geron/Reuters

Businesses in the European Union are being held “hostage” in the ongoing friction between China and the United States, according to Jens Eskelund, president of the European Union Chamber of Commerce in China.

In an exclusive interview published on June 18, Eskelund told Nikkei Asia that the EU has suffered from “collateral damage” amid tensions between China and the United States, even after both sides recently reached a tentative trade deal.