U.S. President Joe Biden and Chinese President Xi Jinping finally held their much-anticipated virtual summit on Monday. After the meeting, intended to normalize relations and establish guardrails for contest, competition, and cooperation between the two world powers, U.S.-China trade talks are likely to resume shortly. In her recent speech at the Center for Strategic and International Studies in Washington, U.S. Trade Representative Katherine Tai laid out a new trajectory for the Biden administration’s trade policy. Tai correctly pointed out that China’s state-centered, nonmarket trade practices were not addressed in the Phase One agreement, a trade deal signed by the Trump...