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(Oil Prices Advance as U.S.-China Trade Talks Yield Little Progress)
Oil prices rose on Friday as the highly anticipated U.S.-China trade talks ended with little progress made, while the two countries began imposing tariffs on $16 billion worth of goods to each other."We concluded two days of discussions with counterparts from China and exchanged views on how to achieve fairness, balance, and reciprocity in the economic relationship," White House spokeswoman Lindsay Walters said in a brief statement. No further talks between the two sides had been scheduled, Bloomberg reported citing a person familiar with the discussions. The person added that it is likely no further negotiation would happen until after November’s mid-term elections in the U.S.
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