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ALL ABOUT CHINA, AND AMERICA TRADE WAR.
ALL ABOUT CHINA, AND AMERICA TRADE WAR February- March, 2018 • The US implements ‘global safeguard tariffs’ – placing a 30 percent tariff on all solar panel imports and a 20 percent tariff on washing machine imports. • Trump signs a memorandum directing the following acts: – To file a WTO case against China for their discriminatory licensing practices – To restrict investment in key technology sectors – To impose tariffs on Chinese products Source Google image April-May, 2018 • China imposes tariffs on 128 products including fruit, wine, seamless steel pipes, pork and recycled aluminium. • The USTR releases an initial list of 1,334 proposed products subject to a potential 25 percent tariff. • US and China agree to put the trade war on hold after China reportedly agrees to buy more US goods. Source Google image June-August, 2018 • China revises its initial tariff list (25 percent on 106 products) to now include a 25 percent tariff on 545 products. • US implements first China-specific tariffs US • US releases second tariff list US • China announces second round of tariffs on US products • China files WTO claim against US Source Google image September-December, 2018 • China announces retaliation for US tariffs • China cancels trade talks with US • US and China implement third round of tariffs US • US and China agree to temporary truce • China to temporarily lower tariffs on US autos; resumes buying US soybean exports Source Google image January-March, 2019 • US and China engage in 3-day trade talks in Beijing • US cancels preparatory talks with China • US and China hold 2-day trade talks in Washington D.C. • China extends the suspension of additional tariffs on US autos and auto parts Source Google image April-June, 2019 • China bans all types of fentanyl • US and China hold trade talks in Washington • US and China agree to establish trade deal enforcement offices • Trump threatens to raise tariffs on China • China announces tariff hikes Source Google image July-September, 2019 • Trump threatens tariffs on US$325 billion of Chinese goods • Shanghai trade talks end with little progress being made • US declares China is a currency manipulator • Chinese companies suspend new US agricultural product purchases • China lodges WTO tariff case against the US • US-China mid-level trade talks in Washington Source Google image October-December, 2019 • US announces “Phase 1” deal, delays tariff increase for Chinese goods • US tariff exclusion process for US$300 billion of Chinese imports • US, China negotiators talk over phone • China wins WTO case • US, China agree to ‘phase one deal’ Source Google image January-March, 2020 • US officially drops China’s currency manipulator label • US, China sign phase one trade deal • China unveils new tariff exemption lists for US imports Source Google image April-May, 2020 • China-US reaffirm their phase one trade deal commitments over the phone • China announces new list of US commodities excluded from tariffs • Total US tariffs applied exclusively to Chinese goods: US$550 billion • Total Chinese tariffs applied exclusively to US goods: US$185 billion Source Google image June THANK YOU
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