The US-China Trade Truce Is Not ‘Truly Great’

“Truly great” is how US President Donald Trump described his much-anticipated confab with Chinese leader Xi Jinping to discuss trade between the world’s two largest economic superpowers. “I guess, on the scale from zero to 10, with 10 being the best, I would say the meeting was at a 12,” Trump told reporters aboard Air Force One on his way back from South Korea.

As far as not adding to the disruptions in global trade caused by Trump’s chaotic tariff policies, Trump’s assessment is probably correct. But on substance, it’s more like a five — at best — for the US. Rather than coming away with a framework for resolving the fundamental differences between the two countries, the few details we have of the one-year truce struck on Thursday suggest a temporary stabilization of relations where China maintains significant leverage over the US in one critical area.