Before the media report on the lack of progress in the trade talks, share prices had gained on Wednesday, with the S&P 500 rising 0.91 per cent on hopes of a possible compromise between the world's two biggest economies.
However, the White House denied that Liu planned to leave Washington on Thursday.
With trade talks between the world's two largest economies, the U.S. and China, about to begin on Thursday, media reports suggest that Beijing is ready to negotiate a partial trade deal.
China refused to talk about forced technology transfer and also skirted the issue of state subsidies during the deputy-level meetings, SCMP said, citing a source with knowledge of the meetings.
Would love to make a trade deal with China if it is the right deal.
One source told the Post that "they have made no progress" as U.S. officials refuse to budge on the issue of tariff increases.
Speaking to reporters a day before high-level trade talks resume in Washington, Trump said: "If we can make a deal, we're going to make a deal, there's a really good chance".
Beijing had lowered its expectations for significant progress during this week's trade talks, Chinese government officials told Reuters News Agency, after the United States blacklisted more than two dozen Chinese entities on Monday.