Bryan Riley points out that it appears to leave China’s tariffs on the U.S. higher than they were before President Trump initiated this round of trade conflict, while also leaving our tariffs on China higher. That looks, and I think is, perverse, but it may make sense if you assume (as Trump clearly does) that U.S. tariffs on other countries are a boon for our economy. On that assumption, it’s unfortunate that we have ended up with higher Chinese tariffs on us, but at least we limited those tariffs, and we got to raise our own tariffs.