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The recently announced EU-China principally agreed investment deal is a watershed moment, marking a first EU-China investment deal of its kind that would open the doors for the EU to make direct investment in China. China will also have opportunities to expand its reach in the European market. While the deal would yield numerous benefits to the parties involved, it also has very visible geo-political strings attached to it, which involve not only the EU and China, but the U.S. as well. The EU-China deal is being seen in the U.S. both by the Trump administration (which is already in a state of ‘trade war’ with China) and the Biden administration as a set-back to their stated policy of following a ‘tough’ approach to China.