Chinese and U.S. officials hold trade talks in Shanghai. Read more:
SHANGHAI/WASHINGTON - U.S. and Chinese negotiators wrapped up a round of trade talks on Wednesday without visible signs of progress and put off their next meeting until September, extending an uneasy truce between the world’s two largest economies for at least a month.
Fresh fears over the trade war and concerns about a protracted fight with little near-term progress weighed on global markets on Wednesday. “We expect negotiations on an enforceable trade deal to continue in Washington ... in early September,” White House spokeswoman Stephanie Grisham said in a statement. “The Chinese side confirmed their commitment to increase purchases of United States agricultural exports.”
“We hope the negotiators will continue to take a pragmatic and realistic approach to compromise and reach a conclusion that leads to greater market access for foreign companies, improves the protection and enforcement of intellectual property, and ultimately levels the playing field for foreign companies operating in the market,” the council said.
An official Chinese government survey released on Wednesday showed factory activity shrank for the straight third month in July, underlining the growing strains the dispute has placed on the world’s No. 2 economy.
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