China and the U.S. to talk trade war ceasefire — not peace

The first major trade war between China and the United States reaches its second meeting as both nations struggle to resolve decades of intense economic rivalry with little clarity on how either side might emerge victorious. The U.S. seeks to reduce its trade deficit by convincing China to change its economic model and boost global consumption, which would require painful domestic reforms. Their efforts are complicated by a situation where neither side can agree on what constitutes a win, leaving both economies in limbo as the tension continues to spiral.