President Trump has a big agenda on trade policy. He wants more markets open for American goods and services, and he wants more fair and reciprocal trade both in Asia and in Europe. He also wants to update and modernize our 1992 North American Free Trade Agreement with Canada and Mexico. The NAFTA negotiations continue and, while slow, they have been encouraging.

Trump’s efforts to reset trade relations with China are proving to be challenging. This is no surprise. China has been a very difficult trading partner since the 1990s. Obviously, it is an important and large market for American goods and services, but the Chinese have a track record of stealing American and European intellectual property, blocking the import of certain American goods and services with high tariffs or difficult non-tariff barriers.