{O/C} This year's trade talks between China and the United States broke-up without a breakthrough.
Still, both countries did agree to work together to reduce America's trade deficit.
{Take SOT}
Officials from the world's two largest economies gathered in Washington D.C. for the annual U.S.-China Comprehensive Economic Dialogue.
[For soundbites: https://www.youtube.com/watch?v=9USIY4nvb78]
{Soundbite}
STEVEN MNUCHIN, U.S. Treasury Secretary:
With the economic dialogue, my hope is that we can increase our focus on concrete and targeted commitments to address both short-term and long-term strategic challenges.
{VO}
But the dialogue fizzled out fast when the Trump administration began listing steep demands.
It wants increased exports of American goods to China and broader market access for U.S. companies.
{Soundbite}
We need to work together to maximise the benefit for both sides. But this is only possible if there is a more fair and balanced economic relationship between the United States and China.
{VO}
The U.S. also demands a cleanup of Chinese companies battling excess supply -- one of the reasons why the White House is considering slapping China with steel tariffs.
But such steep demands stirred up tension from Vice Premier Wang Yang.
{Upsound 01:10 - 01:11}
He made it clear America needs to be patient because confrontation will immediately damage the interests of both sides.
Then he went on to suggest Trump should follow his own advice in one of his books. He quoted Trump as saying "Coming together is a beginning. Keeping together is progress. And working together is success."
And with that, the dialogue ended in a big disappointment.
News conferences were cancelled, no joint statement was made and no new announcements on U.S. market access to China.
The talks were also expected to cover U.S. demands that China put more pressure on North Korea to curb its nuclear and missile development.
Word has it, the Trump administration is about to sanction Chinese banks and firms doing business with Pyongyang.
Still, the Chinese embassy in Washington cast the talks in a positive light. It said both sides made "significant progress".
{Sonya Artero, TVB News.}
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