The Problem With Starting (Another) Trade War With China ...Middle East

“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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