White House officials said talks would resume today, but it’s unclear whether the two sides can bridge the differences that have arisen over the past week.

The Chinese Ministry of Commerce announced that it would “take necessary countermeasures,” although it gave no specifics. China already has tariffs on nearly all American imports.

Closer look: President Xi Jinping is China’s most powerful leader in decades, but if economic ties with the U.S. are mismanaged it could tarnish his authority.

Related: Global markets largely rose today, as investors bet that a deal could still be reached.

Growing concerns about North Korea

President Trump acknowledged on Thursday that “nobody’s happy” after the North launched short-range ballistic missiles for the second time in a week.