Why Trump is losing his trade war with China

Donald Trump shakes hands with President Xi Jinping of China in 2018. | Artyom Ivanov/TASS via Getty Images

In recent days, Donald Trump has signaled eagerness to reach a trade agreement with China. The president said Tuesday that his 145 percent tariffs on Chinese imports will “come down substantially” in the near future. 

On Thursday, Trump said that his administration is already negotiating with China over trade, saying, “They had a meeting this morning.” Asked who precisely had a meeting...