China’s consistent message to the U.S. since Donald Trump’s election is the need for deeper cooperation. But Trump and his hawkish advisers and Congressmembers seem bent on a trade war and closer ties to Taiwan. His strategy is that once the Middle East and Ukraine are “solved,” he will be positioned to force Xi Jinping’s hand. But the Chinese have options for dealing with U.S. economic pressure. Still, Trump might bargain on U.S. security ties if he can get a deal on trade. The most likely outcome is more tension in U.S.-China relations and a further drift toward Cold War-era competition.