President Donald Trump recently announced a tentative trade deal with China, touting it as a significant breakthrough. However, a deeper analysis reveals that this pact merely resets the status quo, maintaining historically high tariff rates against Beijing.

Under the newly fleshed-out details, Washington will maintain high tariffs on vehicles imported from the bloc until the E.U. takes steps to lower its levies on many American products.

U.S. and South Korean officials are set to finalize more details of their trade and tariff agreement today, President Trump said on Monday, after a meeting with South Korean President Lee Jae Myung. “I think we have a deal done,