A worsening of trade relations between the U.S. and EU could be the defining factor for global trade policy in 2020. Talks that started in July 2018 made little progress ahead of the arrival of a new European Commission as well as because of threatened, but not implemented, U.S. automotive tariffs. The EU Trade Commission, Phil Hogan, is looking for a “reset” in trade relations at meetings in mid-January, specifically including existing U.S. tariffs. U.S. Trade Representative Robert Lighthizer meanwhile has identified “basic trade problems” with the EU. The U.S...