U.S. President Donald Trump has finally carried out his threats on trade with China, announcing Thursday the start of a process that will lead to sweeping tariffs on Chinese imports and restrictions on Chinese investments.
Trump hopes to compel a recalcitrant China to end a range of unfair business practices and open its market wider to U.S. companies, thus reducing the large U.S. trade deficit.
In fact, Trump could be doing just the opposite — taking the pressure off Chinese President Xi Jinping rather than ramping it up. In some respects, Trump's tariff plan plays right into Xi's hands.