This CER analysis argues Europe is learning three hard lessons about trade in a world run by power politics, not polite rules. The EU likes to see itself as a global trade giant, but the past year has exposed how vulnerable it really is. Washington can pressure Europe without fear, Beijing can undercut Europe with state-backed industry, and Brussels struggles to respond because it is divided and dependent. The message is grim: Europe’s trade model was built for yesterday’s world – and it is being punished for it.