Trade talks between the US and China ended today in Beijing with each side apparently staking out positions the other side is unlikely to meet. An optimistic interpretation is that the two sides have laid out opening positions and set up a process for negotiations to resolve trade tensions. However, two documents are circulating that USCBC sources say accurately reflect positions presented by each side; if so, the gap to be overcome is wide.

The United States and China have both fired warning shots on the growing field of bilateral trade disputes, though the most significant battle is likely still weeks away. While both sides have announced proposed tariffs on $50 billion in imports in relation to the USTR’s investigation into China’s intellectual property and technology transfer policies, neither will be implemented immediately.