WASHINGTON (AP) — The Trump administration and China are facing growing pressure to blink in their six-month stare-down over trade because of jittery markets and portents of economic weakness.

The import taxes the two sides have imposed on hundreds of billions of each other's goods — and the threat of more to come — have heightened anxiety on each side of the Pacific. The longer their trade war lasts, the longer companies and consumers will feel the pain of higher-priced imports and exports.

Their conflict is occurring against the backdrop of a slowdown in China and an expected U.S. slump that...