China promised Trump a better deal for America; it didn't actually deliver

The world's eyes have been glued to an epic competition that has been unfolding in Beijing between the globe's leading contenders. The contest is fierce, and it's anyone's guess who will emerge the victor. No, we're not talking about the Winter Olympics. We're talking about the ongoing trade war between the United States and China.

The trade war is now almost four years old. In 2018, President Trump fired the first shots by imposing tariffs on various Chinese products. China retaliated, imposing tariffs on American products. The war kept escalating — with each side making their tariffs higher and more expansive.

Then, in January 2020, President Trump met with Chinese Vice Premier Liu He at the White House, and they both the "Phase One'' trade deal. Think of it basically as