“There’s an old joke,” Woody Allen says at the start of his 1977 movie Annie Hall. “Two elderly women are at a Catskill mountain resort. And one of them says, ‘Boy the food at this place is really terrible.’ The other one says, ‘Yeah, I know. And such small portions.’”That Borscht Belt witticism neatly sums up the Biden administration’s new trade policy, with the president speaking both parts. The food at this place is really terrible: That’s candidate Joe Biden during the 2020 campaign, lambasting President Donald Trump’s tariffs on three-quarters of all Chinese imports:Trump doesn’t get the basics. He thinks his tariffs are being paid by China. Any beginning econ student at Iowa or Iowa st
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