enact

If enacted, the 100% tariffs would represent one of the harshest trade penalties ever imposed between the world’s two largest economies — and could redefine the trajectory of U.S.–China relations for years to come.

The tax increases under President Bill Clinton and the spending cuts enacted later by the Republican Congress helped to turn the red ink to black.

But the opposition, who the US among others say won the last election, has been left with few obvious paths forward to enact real change.

Japan enacted a law last year that specifically targets smartphone software, while parallel rulebooks are also being developed in South Korea and Brazil.

Cracks are starting show in riskier areas of the market, despite the massive tax and spending cuts enacted this summer and lower interest rates from the Federal Reserve that should keep the economy growing.