Despite his talk about “extreme competition” with China, President Biden is abandoning the fight over who will set the ground rules for the future digital economy. U.S. trade policy remains stuck in the past because Democrats fear the wrath of progressive protectionists and Republicans fear a backlash from reactionary economic isolationists. Yet the public’s outlook differs. The Chicago Council on Global Affairs reports that mainstream America thinks trade is good for the U.S. economy (75%) and that globalization is mainly good (68%). Digital policies to regulate and tax the transfer and use of information, data, software and technology will drive...