The way President Donald Trump sees it, beating China in a trade war should be easy.

After all, his logic goes, the Chinese sell Americans three times as much stuff as Americans sell them. Therefore, they have more to lose. Inflict enough pain – like the combined 145% taxes he slapped on Chinese imports last month – and they’ll beg for mercy.

Trump’s treasury secretary, Scott Bessent has confidently compared Beijing to a card player stuck with a losing hand. “They’re playing with a pair of twos,’’ he said.