President Donald Trump has blocked Broadcom’s $142 billion bid for Qualcomm on national security grounds. That likely reflects a desire to ensure there is a U.S. player in the forthcoming roll-out of 5G telecoms networks. It’s also likely backed by the $30 billion trade deficit the U.S. has in voice- and data-network equipment, following a 2% rise in imports and 6% slide in exports in the 12 months to January 31. China accounted for 48% of U.S. imports, and in turn the U.S. accounted for 29% of Chinese exports from suppliers including Quanta, Foxconn and Pegatron. Their exports may also ...