Global markets surged Monday morning on news that President Trump and Chinese President Xi Jinping had reached a 90-day ceasefire in their high-stakes trade war, issuing relief for businesses who had scrambled to cushion the blow from heightened tariffs on $200 billion worth of goods originally slated for Jan. 1, the WSJ reports.
Yes, but: That relief is temporary. As the Journal's Bob Davis notes, Trump and Xi didn't reach a resolution on some of the major differences that had set off the trade war in the first place, including forced technology transfers, intellectual property theft, non-tariff barriers to Chinese markets and cyberespionage.