Companies welcome US-China trade truce, warn disputes remain

World

In this Thursday, Oct. 3, 2019, photo, a man looks at an electronic stock board showing Japan’s Nikkei 225 index at a securities firm in Tokyo. Asian shares were mixed Thursday, Oct. 10, following broad gains on Wall Street as investors pondered mixed reports on the likelihood of progress in resolving the trade war between the U.S. and China. (AP Photo/Eugene Hoshiko)

BEIJING (AP) – Companies have welcomed a U.S.-Chinese trade truce as a possible step toward breaking a deadlock in a 15-month-old tariff war, while economists caution there was little progress toward settling core disputes including technology that threaten global growth.

President Donald Trump says Washington will suspend a tariff hike planned for Tuesday on $250 billion of Chinese goods. In exchange, Trump says China agreed to buy as much as $50 billion of American farm goods. Details of other possible agreements weren’t immediately released.

The bruising battle over China’s trade surplus and technology ambitions has disrupted global trade. Economists warn a final settlement might take years to negotiate. Despite that, financial markets rise ahead of each round of talks and fall back when no progress is reported.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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