US Commerce Secretary: Trade negotiations with China halted

U.S. Commerce Secretary Wilbur Ross said in an interview with CNBC on Wednesday that trade negotiations with China appear to have taken a brief pause, and he damped expectations that an agreement would come out of an upcoming G20 meeting.

"In any negotiation, there are ups and downs, there are hiatuses, and there are much more active periods. So it appears as though we may be in something of a hiatus now," he said.

"Meetings of leaders at the G20 never get into huge amounts of detail. Those are meetings that are designed to be broad policy statements."