Leaders of the European Union and Japan have launched an alliance aimed at boosting economic cooperation, defending free trade and countering unfair trade practices as the two sides face growing challenges from the United States and China.

While all eyes are on Trump’s trade war, China and the EU are planning to meet for a highly-anticipated trade summit. But as CNN Global Economic Analyst Rana Foroohar explains, being targets of Trump’s tariffs may not enough to bring Beijing and Brussels together.

There were big trade talks in Beijing yesterday, where the EU raised concerns with China about trade imbalances.