For Europe, the Trump-Xi summit is not just about US-China relations.

It’s about whether the European Union ends up squeezed between two superpowers cutting tactical deals over trade, technology, energy and security – while European interests are treated as secondary (if at all).

In fact, Europe might be watching the summit from a lose-lose position.

The most immediate concern in Brussels and Berlin is probably nothing less than industrial survival – and it comes in the form of rare earths.

China still dominates the supply chain for these critical minerals used in a wide range of goods from electric vehicles to semiconductors, from green tech products to defence systems.