With distrust running high, both sides have been keen not to appear weak, and analysts have low expectations of a breakthrough.

Trade discussions between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng ended after a day of prolonged negotiations and will resume Sunday, a source said.

Trump’s escalation sent financial markets tumbling and left U.S. retailers warning that they might run out of goods as U.S.-China trade implodes. U.S. consumers, worried about the prospect of empty shelves and higher prices, are losing confidence in the economy.