After a week of interviews in Beijing, Shenzhen and Hong Kong, I’ve come away with some strong feelings about the United States-China trade dispute. There are two battlefronts: One is the negotiation to eliminate the barriers to American companies competing in China, and the other is what to do about Huawei, China’s enormous telecom networking company that Beijing sees as a crown jewel of national innovation and the Trump team sees as a giant global espionage device.

Get to know that name — Huawei. The issues it represents are as important as all the rest of the trade talks combined.

On the pure trade battlefront, I left China feeling that there’s a decent chance a limited deal — rolling back some American tariffs in exchange for a resumption of certain Chinese purchases, particularly of agricultural products, from the United States — can be reached in the near term. Both sides could use such a deal.

I also left feeling, though, that President Xi Jinping is less likely to sign on to the kind of grand bargain, and broad concessions, that President Trump is demanding. That’s in part because Xi would get too much pushback from his state-owned industries and Communist Party hard-liners. But it’s also because months of impulsive Trump threats, tariffs, praises and then more threats have clearly led a lot of Chinese officials to conclude that Trump is an unstable character who always has to be seen to “win” and humiliate the other side, and therefore can’t be counted on for a big win-win deal — or even to stick to it if one were agreed on. Better to let the talks drag on.