BEIJING—The U.S. and China asked one another to make sweeping concessions in trade talks, failing to bridge sharp divisions and raising the chances that each government will slap tariffs on tens of billions of dollars of the other country’s exports before settling the dispute. Top economic officials on both sides sat down for two days of talks this week after exchanging lists that contained sizeable demands. The U.S. asked China to cut its trade surplus by $200 billion, for example, while the Chinese officials sought to get...

Source: Wall Street Journal May 04, 2018 07:37 UTC