The phase one deal has put the brakes on souring relations, but it may not reflect any clear winner. One benefit, however, is the easing of uncertainty.

China and the U.S. relationship, while strained, remains the most important bilateral relationship in the world today. The 2020 election will surely revolve around it.

Differences in the words and phrases used to express what has transpired suggest there are dangers for the future. The number and complexity of variables does not inspire confidence.

Cutting ties would undoubtedly hurt both countries. But when wishful policies collide with the iron laws of economics, the latter are certain to prevail.

Dealmakers always know when to cut their losses. And so it is with the self-proclaimed greatest dealmaker of them all: US President Donald Trump. Having promised a Grand Deal with China, the 13th round of bilateral trade negotiations ended on October 11 with barely a whimper, yielding a watered-down partial agreement: the “phase one” accord.

Chinese and U.S. economies are highly complementary, and cooperation between them has an important bearing on the efficacy of global governance and the sustainability of global economic growth. Yet the ongoing trade war continues to do harm to both economies and to erode trust between the two nations.

With the United States talking about an incremental approach, the dispute could drag on indefinitely. But both sides have incentive to call it quits — preferably sooner than later.

This is no ordinary time in US-China relations. While President Trump lacks consistency, predictability, factuality on many areas in the US-China relationship, there is still a major lack of reciprocity in the US-China trade relationship. Even so, there still exists a viable pathway to a US-China relationship that is mutually beneficial and politically sustainable.

There are significant and worrisome cracks forming in the commercial relationship between the US and China; neither party should have to resort to large-scale actions like tariffs in order to remedy their trade disputes.

The approach to the current China-US disputes by the US administration is counterproductive. The US must not let falsehoods being spread about China interfere with the creation of productive strategies that would better solve these economic issues.