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US-China trade war in dates
WASHINGTON, Dec 14, 2019 (BSS/AFP) – Key dates in the trade battle between
the United States and China, who on Friday announced a “phase one” trade deal
to end a 21-month standoff.
– March 2018: tax on steel, aluminum –
On March 8, President Donald Trump announces tariffs of 25 percent on
steel imports and 10 percent on aluminum from a number of countries in a bid
to slash the huge US trade deficit and restore production by American
companies.
On the eve of their application, Trump suspends the tariffs for several
countries but not China.
– July 2018: tit-for-tat –
On July 6 the US slaps punitive duties on about $34 billion of Chinese
imports including cars, hard disks and aircraft parts.
Beijing imposes tariffs of equal size and scope, including on farm
products, especially soybeans, as well as cars and marine products.
On August 23, Washington puts new duties on another $16 billion of Chinese
goods. China applies 25-percent tariffs on $16 billion of US goods, including
Harley-Davidson motorcycles, bourbon and orange juice.
On September 24, Washington slaps 10 percent taxes on $200 billion of
Chinese imports. Beijing retaliates.
– May 2019: hostilities resume –
After a truce of several months, Washington reignites its trade war on May
10 by increasing to 25 percent duties on $200 billion in Chinese imports.
Opening a new front, Trump on May 15 bars US companies from using foreign
telecoms equipment deemed a security risk — a move aimed at Chinese giant
Huawei.
On June 1, China increases its taxes on $60 billion of US imports.
On August 1, Trump announces new 10 percent tariffs on another $300
billion in Chinese goods, later increased to 15 percent.
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– August: yuan devalued –
In early August, China allows the yuan to fall below 7.0 to the dollar for
the first time in 11 years. Washington accuses Beijing of manipulating its
currency to help its exports, a charge it denies.
On August 13, the United States decides to delay until December 15
imposition of tariffs on some products including cell phones, laptops,
computer monitors, footwear and clothing.
However others remain in place to take effect September 1, and existing 25
percent duties on $250 billion worth of Chinese products due to rise to 30
percent on October 15.
China announces on August 23 it will hit US soybeans, lobsters, peanut
butter and other imports worth $75 billion with new tariffs in retaliation
for the looming hikes.
It says it will also reimpose a 25 percent tariff on US autos.
A day after the US tariffs come into effect on September 1, China lodges a
complaint at the World Trade Organization.
On September 4, Trump announces import duties on structural steel from
China, saying its manufacturers dumped the product on the US market.
– December 13: ‘phase one’ deal –
On December 13, Washington and Beijing announce agreement on a “phase one”
trade deal with the United States that will lead to a progressive rollback of
tariffs.
In a major concession, the US will cut in half the 15 percent tariffs
imposed on $120 billion in Chinese goods, like clothing, that were imposed
September 1 and had a bigger impact on American shoppers than previous
rounds.
In addition, Trump confirmed he is cancelling the new tariffs on $160
billion worth of Chinese goods, that had been due to kick in on Sunday.
Beijing says it will not introduce tariffs on US products that had been
planned in retaliation.
China says the agreement, which has still to be signed, also includes
strengthening the protection of intellectual property rights and expanding
market access.
BSS/AFP/HR/0930