US-China trade talks resume on Tuesday in Shanghai amid low expectations for a breakthrough to end the year-long spat between the world’s two largest economic powers.

The meeting between US trade representative Robert Lighthizer, Treasury secretary Steven Mnuchin and their Chinese counterpart, vice-premier Liu He, was organised after presidents Donald Trump and Xi Jinping agreed to a trade war truce at the G20 meeting in Osaka only a month ago.

Optimism has been dented since then. Mr Trump warned last week that there might be no deal before the next US presidential elections in November 2020. […]