US-China Trade Talks End With No Breakthrough - NBC 6 South Florida

US-China Trade Talks End With No Breakthrough

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

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    In this Aug. 15, 2018, file photo, visitors look at a manufacturing robot from Chinese robot maker Aubo Robotics at the World Robot Conference in Beijing, China. The United States and China imposed more tariff hikes on billions of dollars of each other's automobiles, factory machinery and other goods Thursday, Aug. 23, 2018, in an escalation of a battle over Beijing's technology policy that companies worry will chill global economic growth.

    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.

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    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 U.S.-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 U.S. companies to hand over trade secrets in exchange for access to the Chinese market.

    Associated Press writers Darlene Superville and Joe McDonald contributed to this report.