US-China trade cease fire does little to narrow differences

US-China trade cease fire does little to narrow differences
President Donald Trump listens to China's President Xi Jinping speak during their bilateral meeting at the G20 Summit, Saturday, Dec. 1, 2018 in Buenos Aires, Argentina. (AP Photo/Pablo Martinez Monsivais)

BEIJING (AP) — A U.S.-Chinese cease fire on tariffs gives jittery companies a respite but does little to resolve a war over Beijing’s technology ambitions that threatens to chill global economic growth.

On Monday, Asian stock markets welcomed President Donald Trump’s agreement to postpone U.S. tariff hikes on Chinese goods for 90 days while the two sides negotiate. In exchange, Chinese President Xi Jinping promised to buy more American exports.

The chairman of the American Chamber of Commerce in China said the outcome was “as good as we could have expected.”

The two sides, however, gave no indication their positions have changed on their core dispute: American pressure on Beijing to roll back industry plans that Washington says are based on theft and violate Chinese market-opening obligations.