Among all the trade fights that President Donald Trump has picked, his hand against China is the strongest. That fight has economic, strategic and political logic that his confrontations with Canada, Mexico, Western Europe and Japan lack. Yet China, incredibly, appears to be winning. Though it is still early days, China has thus far escaped the bulk of threatened U.S. tariffs while giving up almost nothing of substance.

Source: Wall Street Journal May 22, 2018 09:34 UTC