A double-acting, weight distributing trailer hitch includes a drawbar assembly and a hitchhead assembly. The drawbar assembly is releasably connected to a tow vehicle and includes a first coupling component at its rearward end. The hitchhead assembly includes a second coupling component and a rearwardly extending drawbar extension, which are pivotably connected along substantially vertical axis by a yoke. The drawbar extension is pivotally connected to the yoke by a cam. The drawbar extension is also mounted pivotably 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 pivotably 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 pivoting of the drawbar extension about the horizontal axes and thereby dampens hinging movement between the tow vehicle and trailer. The cam is operated to adjust the hitchhead so that a predetermined angle is imparted to the drawbar. 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.