No headway in U.S.-China talks over trade deficit

Jul 20, 2017, 8:30 AM EDT
(Source: U.S. Department of Agriculture/flickr)
(Source: U.S. Department of Agriculture/flickr)

A meeting between the U.S. and Chinese officials in Washington ended up as a futile exercise as the two nations failed to reach a consensus on tackling their massive trade imbalance.

The U.S., which has a trade deficit of $347bn with China, has been critical of Beijing on a number of trade issues including its excess steel capacity responsible for global glut, writes the BBC.

The failure of the talks raises questions on U.S. President Donald Trump’s ability to resolve key economic and security issues with Beijing, notes Fortune.