Through sincere efforts by the U.S. and China, it’s possible that the decline in trade will bottom out this year. Strong business relationships can once again serve as a stabilizing factor in the overall relationship, and inure to the benefit of our two peoples and the world.

Lip service notwithstanding, what Washington has been doing over the years is a form of decoupling with China — in the guise of national security. Top American officials have not articulated any boundary between decoupling and what they say are moves to “de-risk” the relationship. In many ways, they look the same.

The decline in trade cannot continue, as both countries need each other. It can be expected that they will patch up their disputes and work together, turning the numbers around to bring more tangible benefits to their people.

Paradoxically, last year set a record for trade between China and the United States, notwithstanding hostilities. But while the internal dynamics for economic interaction and trade remain resilient for now, some analysts see clouds on the horizon.

Removing import tariffs on Chinese goods could lower consumer prices in the U.S. amid inflation, dissipate the U.S.-China trade war, and support the administration’s overall strategy to strengthen its presence and influence in the Indo-Pacific region.

U.S. announcements and actions show some new approaches. In short, trade plays second fiddle to the White House’s strategic objectives — meaning that commercial interests will be sacrificed whenever Washington has need. Trade with China is viewed through a geopolitical lens.

The United States has recklessly dismissed China’s efforts, even though many factors beyond China’s control have influenced its ability to fulfill its side of the deal. The agreement should be implemented jointly and thoughtfully, not by finger-pointing.

The Biden administration’s long-awaited strategic framework for trade with China may not be more effective than Trump’s. But it’s imperative to avoid harm and to push for new engagement consensus.

The unfortunate Japanese experience in boosting domestic demand and setting trade policy can be drawn upon today. Hopefully, China will not repeat the mistakes of Japan. Frictions between China and the United States can be addressed if they are willing to meet each other halfway.

The seemingly stagnant review of U.S. official policy on trade with China has driven business leaders stateside to start issuing demands to the Biden administration for clarity and an end to the economic constraints of the trade war.