US, China Leave Next Steps For Trade Talks Unclear

The United States and China gave no indication of their next step after wrapping up talks aimed at resolving a tariff fight that threatens to chill global growth.

The two sides will “maintain close contact,” China’s Ministry of Commerce said Thursday. But they announced no agreements or date for meeting again during the 90-day truce declared on Dec. 1 by Presidents Donald Trump and Xi Jinping in their fight over Beijing’s technology ambitions.

That uncertainty dampened Asian investor sentiment. Stock markets in Germany, France, Japan and China fell back after rising Wednesday following Trump’s comment on Twitter that the talks were “going well!”

Negotiators focused on China’s pledge to buy a “substantial amount” of agricultural, energy, manufactured goods and other products and services, the U.S. Trade Representative said.

However, a USTR statement emphasized American insistence on “structural changes” in Chinese technology policy, market access, protection of foreign patents and copyrights and cyber theft of trade secrets. It gave no sign of progress in those areas.

It also said the negotiations dealt with the need for “ongoing verification and effective enforcement.” That reflects American frustration that the Chinese have failed to live up to past commitments.

A Ministry of Commerce spokesman, Gao Feng, said the talks “enhanced mutual understanding and laid the foundation for addressing each other’s concerns.”