The new president has a daunting list of foreign-policy challenges. Among the biggest will be managing a longtime ally.
Joe Biden begins his first full day as the 46th president of the United States today with as daunting a list of foreign-policy challenges as almost any of his predecessors. After four years of Donald Trump, the new administration must overcome skepticism about America’s ability to deal with the great tests facing the world, including the rise of China as a 21st-century superpower, the spread of nuclear weapons, and the onslaught of man-made climate change. To this list can be added a new issue: patching up the transatlantic alliance.
Last month, with Biden’s inauguration just weeks away, the European Union and China pushed a new economic agreement over the line. The actual terms of the China Investment Agreement remain unclear—the text is still to be finalized—but the broad outline is simple enough: a deeper trading relationship based on common and apparently enforceable standards. According to the EU, the deal ties Beijing to a new “values-based investment relationship” that will protect labor and environmental standards, and help root China in the rules-based global order. This is Europe fulfilling the global role it has cast for itself as a “regulatory superpower,” exporting and defending its values through its economic size.