Seeking a Faster Boat to China, Please

If the impending U.S.-China trade deal meets only the lowest expectations, both countries will be better off. Right now it certainly looks likely that fundamental structural issues are only kicked further down the road. The Trump China Trade Strategy—if “strategy” is the right word— had been to hike tariffs on Chinese goods so much that China would be compelled to cut hard bargains on both its resistance to imports and foreign investment, and to agree to enforcement mechanisms that override Chinese domestic law. That just hasn't happened.