BEIJING—China is counting on promises of big purchases of U.S. semiconductors and other goods to ease trade tensions and persuade President Trump to extend a tariff truce and later resolve the market-rattling dispute directly with Chinese leader Xi Jinping.

During this week’s negotiations, which marked their fourth day Thursday, U.S. and Chinese officials have remained deadlocked on a number of issues underlying the current trade dispute, according to people with knowledge of the matter. These include Washington’s complaints...