Nearly two years after President Donald Trump fired the opening shot in his trade war with China, the smoke is clearing on what seems to be the new normal in the troubled US-China economic relationship. Some previously threatened tariffs poised to hurt American shoppers are not taking effect. Some existing US tariffs are being cut in half. China is stepping up purchases of agriculture, energy, and other goods. But overall, tariffs on hundreds of billions of dollars of US trade remain in effect, and no pathway has emerged for the two countries to return to pre–trade war amity. The December 13 announcement of a ... (full story)