Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a clear path forward to avert tariffs from skyrocketing back to ultra-high levels that formed an effective blockade on trade between the world’s two largest economies.

On Tuesday, Li Lecheng said China wants fair growth with U.S. firms, even as Stockholm talks failed to extend the tariff pause. Li hosted a delegation headed by FedEx Chief Executive Rajesh Subramaniam,