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Will Trump and Xi reach a trade war peace deal?

Immediate issues can be settled but little chance of reducing long-term rivalry

| China
Easing the trade war will be easier than addressing the long-term strategic tension, which will continue.   © Reuters

Trade tensions between the United States and China continue to rattle world markets. And many fear the onset of a Cold War between the two countries, especially in the aftermath of U.S. Vice President Mike Pence's by now infamous "Iron Curtain" speech excoriating China.

U.S. President Donald Trump and Chinese President Xi Jinping reached a temporary truce on economic issues on Dec. 1 following the Group of 20 summit in Buenos Aires. But questions remain on what exactly was agreed to by the two sides, as well as prospects for resolving the long list of American complaints about Chinese policies and practices.

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