After two days of negotiations, the United States and China appear hopeful about the progress they’re making on a trade deal. But let’s take a look at what actually went down this week. Both countries say they have a "framework" that basically gets trade talks back to the agreement they made in Geneva a month ago.

The two nations have a chance for a reset. But both must recognize they remain mutually dependent.

The contrast illustrates a disconnect in how the world’s biggest economies want to manage their trade dispute, and broader rollercoaster relationship.