The iPhone was invented in America, is powered by Central African minerals, and is brought to life by European and Asian technologies—but the World Trade Organization and the U.S. still classify it as a 100% Chinese export, writes fredhochberg
At the Jan. 15 White House signing ceremony for an initial trade deal with China, President Trump’s top trade negotiator, Robert Lighthizer, noted that his boss “has, for years, complained about our enormous trade deficit with China.” Indeed, Mr.
Trump and others have long considered that gap a reflection of American economic weakness. The premise seems to be that a $420 billion trade deficit with China is akin to Washington just forking over $420 billion to Beijing each year. In 2012, Mr. Trump tweeted that “every year… China is making almost $300 billion off the United States.” This is the equivalent of saying that...
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