When the United States and China signed their historic trade deal in January, many believed that mounting tensions were beginning to thaw. I wrote then on these pages that the Phase One trade agreement was a mere cease-fire in an ongoing conflict between the world’s dominant superpower and its near-peer competitor. I was also incredulous over the Administration taking China’s promises to purchase $189 billion in US goods and services by 2021 at face value. Over $30 billion of those were earmarked for importing U.S. energy products.
