U.S., Chinese negotiators end trade talks with no deal

May 10 (UPI) -- U.S. and Chinese negotiators ended the second and final day of trade talks Friday, without reaching an agreement to end a trade conflict that's been going for more than a year.

The discussions, which started Thursday, ended late Friday morning -- not long after U.S. President Donald Trump wrote a string of Twitter messages that said there's no "rush" for a deal and accused Beijing negotiators of going back on previous commitments.

Negotiators agreed to go ahead with the second day of talks despite new U.S. tariffs on Chinese imports that took effect Friday. Uncertainty around the negotiations trickled down to Wall Street, where the major indexes fluctuated throughout the morning and early afternoon.

It's unclear when the two countries will resume talks.

"They were constructive discussions between both parties, that's all we're going to say," Treasury Secretary Steve Mnuchin said after the talks ended.

Mnuchin and U.S. Trade Representative Robert Lightizer shook hands with Chinese Vice Premier Liu He as he left before walking into the White House.

Earlier Friday, China vowed to take countermeasures against the new U.S. tariffs, which affect $200 billion worth of Chinese goods.

"We have lost 500 Billion Dollars a year, for many years, on Crazy Trade with China. NO MORE!" Trump tweeted Friday.

"Build your products in the United States and there are NO TARIFFS!" he added.

Trump blamed the conflict, in large part, on the Chinese government and the Obama administration.

"If we bought 15 Billion Dollars of Agriculture from our farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new infrastructure, healthcare, or anything else. China would greatly slow down, and we would automatically speed up!

"Tariffs will bring in FAR MORE wealth to our country than even a phenomenal deal of the traditional kind."

The tariff increase was originally set to kick in March 1, but that deadline was indefinitely delayed as the two sides made "substantial progress," Trump said. The moves Friday are the latest in a series of tit-for-tat measures between Beijing and Washington that first began in January 2018.

Chinese Foreign Ministry spokesman Geng Shuang said Thursday he'd hoped the United States could meet China halfway so the talks aren't fruitless.

"We hope the United States can work with China to meet each other halfway, accommodate each other's legitimate concerns and strive for a mutually beneficial agreement on the basis of mutual respect and equality," he said in a regular press conference. "It will serve the interests of both China and the United States and is the shared expectation of the international community."

The U.S. Federal Register said the increased tariffs will be applied to U.S.-bound goods exported from China.