A double-acting, reduced tongue weight trailer hitch includes a drawbar assembly and a hitchhead assembly. The drawbar assembly is releasably connected to the tow vehicle and includes a first coupling component at its rearward end. The hitchhead assembly includes a second coupling component and a drawbar extension pivotally connected to the second coupling component along a vertical axis. The drawbar extension is pivotally interconnected to the hitch ball along a first horizontal axis that is transverse to the direction of travel. A rearward portion of the drawbar extension is pivotally interconnected to the trailer along a second horizontal axis, which is parallel to the first horizontal axis and located behind the hitch ball. This creates an overlap between the forward end of the trailer and the drawbar extension. A spring assembly dampens upward and downward movement of the trailer relative to the drawbar extension. The coupled tow vehicle and trailer operate essentially as a unified beam and resist relative hinging movement and resulting instability while driving along the highway. The spring also allows the tow vehicle and trailer to stably negotiate dips and bumps in the roadway at relatively low speeds.