US, China end two days of talks with no breakthrough

The trade war between the two economic giants continues to escalate with the recent round of duelling tariffs on $16 billion worth of each country's goods.

Members of Chinese Commerce Vice Minister Wang Shouwen’s delegation wait to be admitted into the US Department of Treasury for trade talks with members of the Trump administration in Washington, DC, US. August 23. 2018.
Reuters

Members of Chinese Commerce Vice Minister Wang Shouwen’s delegation wait to be admitted into the US Department of Treasury for trade talks with members of the Trump administration in Washington, DC, US. August 23. 2018.

US and Chinese negotiators ended two days of meetings on Thursday without breaking a deadlock over a 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."

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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.

The US-China talks this week were the first since discussions in June failed to produce any agreement.

The Trump administration accuses China of using predatory tactics to obtain American technology, including forcing US companies to hand over trade secrets in exchange for access to the Chinese market.

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