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Trade talks between China and U.S. halted as tariff battle escalates

China President Xi Jinping
Chinese President Xi Jinping delivering a speech. Photo: Sheng Jiapeng/Visual China Group via Getty Images

Trade talks between China and the United States have come to a halt following the Trump administration's announcement to move forward in the process of instating tariffs on $200 billion worth of Chinese goods, reports Bloomberg.

The big picture: An impasse makes it unlikely that the implementation of additional tariffs and retaliation between two of the world's largest economies will cease anytime soon.