In 1987, The New York Times published an open letter addressed to the American people. Its author, a New York real estate developer named Donald Trump, accused Japan of taking advantage of the United States and warned that America was being “laughed at” by its trading partners. Nearly 40 years later, now in his second presidential term, Trump has turned the same grievance towards China, accusing it of exploiting US generosity and undermining US power.

That idea now drives Washington’s global strategy and increasingly shapes Europe’s behaviour. The Dutch government’s September 2025 seizure of Nexperia , a Chinese-owned chipmaker, offered the clearest sign yet of how far European governments have been drawn into the US-led confrontation with Beijing. Presented as a matter of national secu

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