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Last Updated : Aug 24, 2018 12:15 PM IST | Source: PTI

US China trade talks end with no breakthrough

The administration last month had slapped tariffs on an initial $34 billion in Chinese products, and Beijing responded in kind.

US and Chinese negotiators ended two days of meetings 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 yesterday 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.
First Published on Aug 24, 2018 12:12 pm
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