My quick reaction:
Trump struggled to enlist the help of the EU in his trade war with China. Biden has gone further than Trump in his attempt to lure the Europeans by agreeing to suspend a 17-year old legal battle over the subsidies received by Airbus from the EU. This came on the heels of the passage of the $250 billion United States Innovation and Competition Act in the Senate designed to limit China’s economic and technological aspirations.
Scott Kennedy at the Center for Strategic and International Studies puts it well: the US-China conflict has “broadened” beyond a trade dispute into a more ideological clash between China’s authoritarian communist system and “free-market democracies and the liberal international order.” A trade war could be settled through bargaining and compromise (Trump signed a phase I deal with China that he called “the biggest deal ever seen”), but an ideological clash could only end when one side has crushed the other (eg, Cold War between US and the Soviet Union).
Trump opened Pandora's Box and now Biden has torn off the lid.