A Delicate Truce in the U.S.-Chinese Trade War

What Both Sides Must Do to Forge a Better Peace

Erin Schaff / The New York Times

Temporary cease-fires and false dawns have punctuated the 19-month-long trade war between China and the United States, only to dissipate with a sudden setback in negotiations, or a tweet from U.S. President Donald Trump that dialed up the heat on China while chilling global markets. And so the world heaved a sigh of relief when the two sides announced Phase I of a trade deal in December, the first step toward a negotiated peace. Predictably, the Trump administration claimed a major victory, calling the deal “historic.” The Chinese side offered a positive spin of its own, noting that the deal …