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China-US trade strain follows a cycle of brinkmanship and rollback
SCMP reports two-way goods and services trade between the countries fell 25.1% last year to about US$494.6 billion, with US exports to China down 26%.
Washington and Beijing have spent nearly a decade trading tariffs, export controls, and blacklists, with each round threatening a rupture while both sides later recover, according to an SCMP Economy column.
The piece says the pattern has shown up again as the two presidents met at the White House this week, arguing that outright enmity is too costly without trust.
It also cites the impact of the deterioration on commerce, saying two-way goods and services trade fell 25.1% last year to an estimated US$494.6 billion, and that American goods exports to China dropped 26%.