After years of clear distinctions between friend and foe during the Cold War, commercial partners of the United States and Europe now offer attractive trade opportunities and security risks at the same time. High technology trade with China presents the transatlantic partners with one such dilemma, but competing interests and different threat perceptions between — and within — the United States and Europe with regards to China also raise the possibility of future transatlantic disputes. Under these circumstances, the United States and Europe must work together to forge a concerted approach to dual-use technological transfers.