Battle for semiconductors: How trade can be used as a weapon

Stop me if you’ve heard this one before: We’re now engaged in a trade war with China.

Actually, you probably haven’t heard this one before. I’m not talking about Donald Trump’s clumsy tariffs aimed at reducing America’s trade deficit. I’m talking instead about the sweeping new controls the Biden administration imposed last Friday on exports of technology to China — controls meant to constrain other advanced countries as well as the United States.