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U.S.-China trade talks end with no breakthrough

In this Monday, Aug. 13, 2018, photo, a man stands near a poster depicting a mural of U.S. President Donald Trump stating that all American costumers will be charged 25 percent more than others starting from the day president Trump started the trade war against China, on display outside a restaurant in Guangzhou in south China's Guangdong province. The recent trade war between the world's two biggest economies has forced many multinational companies to reschedule purchases and rethink where they buy materials and parts to try to dodge or blunt the effects of tit-for-tat tariffs between Washington and Beijing. (Color China Photo via AP)
In this Monday, Aug. 13, 2018, photo, a man stands near a poster depicting a mural of U.S. President Donald Trump stating that all American costumers will be charged 25 percent more than others starting from the day president Trump started the trade war against China, on display outside a restaurant in Guangzhou in south China's Guangdong province. The recent trade war between the world's two biggest economies has forced many multinational companies to reschedule purchases and rethink where they buy materials and parts to try to dodge or blunt the effects of tit-for-tat tariffs between Washington and Beijing. (Color China Photo via AP) In this Monday, Aug. 13, 2018, photo, a man stands near a poster depicting a mural of U.S. President Donald Trump stating that all American costumers will be charged 25 percent more than others starting from the day president Trump started the trade war against China, on display outside a restaurant in Guangzhou in south China's Guangdong province. The recent trade war between the world's two biggest economies has forced many multinational companies to reschedule purchases and rethink where they buy materials and parts to try to dodge or blunt the effects of tit-for-tat tariffs between Washington and Beijing. (Color China Photo via AP)

By Associated Press 2 min read

WASHINGTON (AP) – U.S. and Chinese negotiators ended two days of meetings Thursday without breaking a deadlock over trade that has unnerved financial markets and disrupted global commerce.

The delegations “exchanged views on how to achieve fairness, balance and reciprocity in the economic relationship,” Lindsay Walters, a White House spokeswoman, said in a statement. She did not mention further talks.

A Chinese Commerce Ministry statement said the talks were “constructive and frank” but gave no details. It said the two sides would “maintain contact.”

The dispute over China’s high-tech industrial policy escalated Thursday as the Trump administration and Beijing imposed taxes on an additional $16 billion of each other’s goods. The administration last month had slapped tariffs on an initial $34 billion in Chinese products, and Beijing responded in kind.

The Trump team is preparing tariffs on $200 billion more of Chinese products, and China has vowed to counterpunch by targeting $60 billion in American goods.