China has begun to lose the trade war with the U.S. on the basis of the balance of exports between the two countries. Looking at products where section 301 tariffs were applied in three phases from July to September China’s exports to the U.S. fell 19.5% year over year in January. That was equivalent to a $4.40 billion decline and was driven by the first decline in list three product shipments since tariffs were applied in September. The PC industry generated the largest reductions in dollar terms with PC circuit board exports to the U.S. having fallen 69.7%, while other internal PC comp...