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America First meets China Inc.

Treasury Sec. Mnuchin listens as a Chinese official speaks in Washington. Photo: Brendan Smialowski/AFP/Getty Images

Tomorrow, a seven person U.S. trade delegation will arrive in Beijing to begin discussions over the U.S.-China trade imbalance and its concerns with China’s state-led push to dominate advanced technology.

The bottom line: With the threat of $150 billion in U.S. tariffs looming, the stakes for both sides are high, and no clear path exists toward a negotiated settlement. Both the U.S. and Chinese leaders see trade as a question of national renewal and preeminence. It’s America First meets China, Inc., and something’s gotta give.