話は決まった。

Let’s finish this conversation.

According to Tatoeba (the source), the original English sentence is “Let’s leave it at that.” The author of the original Japanese sentence completely misunderstood the meaning of this phrase.

It should be そこまでにしておこう。or この辺でおしまいにしよう。
そこまで = to that point
しておく = leave it as it is; keep it in the current status
この辺 = around this place/point
おしまい (お仕舞い) = the end; over

Those phrases are used when you would like to terminate the discussion because either 1) it went too deep/complicated and reached a plateau, or 2) you are exhausted.

The original Japanese sentence 話は決まった sounds very unnatural. We don’t combine 話 and 決める because a conversation (話) is not something that we “decide” (決める). We often say 話は「まとまった」or 「結論が出た」, meaning “we (have already) reached a conclusion”. though it’s quite different from the meaning of the English sentence.

@ryandinh97 proposed “Let’s finish this conversation”, which is also far from the Japanese broken sentence. 決まった means “have been decided” (i.e. already realized) whereas “let’s” is used when you are trying to do something (i.e. not realized yet).

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