US, China should grant each other a face-saving exit from trade standoff

As the two sides resume talks this week to end the standoff, both ought to see there's a deal to be had - and should help each other seize it

The damage caused by President Trump’s trade fight with China has spread farther and faster than many expected. Factories in China and the U.S. have seen orders slump. American farmers are hurting. A collapse in Chinese demand for iPhones knocked nearly $75 billion off Apple Inc.’s market cap in a single day. Slower growth just prompted China’s central bank to ease monetary policy, and, despite last week’s encouraging news on U.S. jobs, the Fed is having second thoughts about its plan to normalize interest rates.

The U.S.-China trade quarrel is deeply implicated in this turmoil. As the two sides resume talks