(Reuters) – The prospect of China's China-China trade war was set to decrease further on Friday as China said it would pay revenge tariffs on US goods under $ 75 billion, the rise. Recently in the dispute between two of the world's largest economies.
PHOTO FILE: Seen containers at Yangshan Deep Water Port in Shanghai, China August 6, 2019. REUTERS / Aly Song
President Donald Trump said he was ordering US companies to depart from China, as well as raising tariffs to the value of $ 250 billion for goods to 30% from 25%.
Trump also said that instead of 10% as previously planned for $ 300 billion of Chinese products, almost 15% of tariffs charged to them would be replaced, almost all of the other Chinese imports.
The following timeline details key moments in the sourcing trade relationship between two of the world's largest economies.
June 28, 2016
S&P 500: + 1.78%
During his campaign for White House, Trump sets out plans to tackle unfair trading practices from China at a rally in Pennsylvania. It poses a threat to the application of tariffs under sections 201 and 301 of US trade legislation, which it subsequently makes. He says that the Chinese entry into the World Trade Organization enabled the “most lost jobs in history”.
March 31, 2017
S&P 500: -0.23%
Trump, now president, signifies two executive orders. One requires the implementation of more stringent tariffs in anti-subsidy and anti-dumping cases. The other stipulates a review of US trade deficits and their reasons.
April 7, 2017
S&P 500: -0.08%
At its first meeting at Mar-a-Lago Trump's estate in Florida, Trump and Chinese President Xi Jinping agree with a 100-day plan for trade talks.
July 19, 2017
S&P 500: + 0.54%
Both sides do not agree on new measures to reduce the US deficit with China after the 100 days of talks.
August 14, 2017
S&P 500: + 1.00%
A “Section 301” search trumpet commands the theft of China's alleged intellectual property, as its first direct trading measure against Beijing. Section 301 refers to the part of the trading law of 1974 which sets out how the United States should enforce its rights under trade agreements.
January 17, 2018
S&P 500: + 0.94%
Trump, in Reuters interview, is a threat to China's “fine” for alleged IP theft, without providing data.
January 22, 2018
S&P 500: + 0.81%
Trump applies tariffs to all imported washing machines and solar panels – not just those from China.
March 8, 2018
S&P 500: + 0.45%
Trump stipulates 25% of steel import tariffs and 10% on aluminum from all suppliers – not just China.
April 2, 2018
S&P 500: -2.23%
China imposes tariffs up to 25% on 128 US products.
April 3, 2018
S&P 500: + 1.26%
Trump reveals plans for 25% tariffs on around $ 50 billion of Chinese imports.
April 4, 2018
S&P 500: + 1.16%
China responds to plans for revenge tariffs of about $ 50 billion for U imports.
June 15, 2018
S&P 500: -0.10%
The United States sets an effective date of July 6 for 25% levies on $ 34 billion of Chinese imports. It says 25% of tariffs will start on an additional $ 16 billion of goods after a period of public comment. China in tariff type corresponds to $ 34 billion for U. goods.
July 10, 2018
S&P 500: + 0.35%
The US reveals plans for 10% tariffs for $ 200 billion of Chinese imports.
August 1, 2018
S&P 500: -0.10%
Trump orders USTR to increase the tariffs for $ 200 billion to Chinese imports to 25% from the originally recommended 10%.
August 7, 2018
S&P 500: + 0.28%
The United States releases the list of $ 16 billion for Chinese goods to be subject to 25% tariffs. China varies with 25% duties on $ 16 billion for U goods.
August 23, 2018
S&P 500: -0.17%
Tariffs on goods are on August 7 from the US and China.
September 7, 2018
S&P 500: -0.22%
Trump offers tariffs for $ 267 billion more of Chinese imports.
September 24, 2018
S&P 500: -0.35%
The US applies 10% tariffs to $ 200 billion of Chinese imports. The administration says the rate will increase to 25% on January 1, 2019. China responds to its own duties on $ 60 billion for U. goods.
December 1, 2018
S&P 500: + 1.09% (Monday, December 3)
The US and China agree a 90-day stop with new tariffs. Trump agrees the scheduled increase of tariffs on $ 200 billion to cancel Chinese goods until early March and talks between the two countries. China agrees a “very significant” amount of U. products to buy.
February 24, 2019
S&P 500: + 0.12% (Monday, February 25)
Trump extends the March 1 deadline, leaving the fees of $ 200 billion for Chinese goods at 10% on an open-ended basis.
May 5, 2019
S&P 500: -0.45% (Monday 6 May)
Trump tweets that he intends to raise the tariff rate of $ 200 billion for Chinese goods to 25% on 10 May.
May 8, 2019
S&P 500: -0.16%
The Trump administration gives a formal notice of its tariffs for $ 200 billion of Chinese imports to rise to 25% from 10%, effective 10 May.
Earlier, Reuters reported that China had reversed almost all aspects of U.-China's draft trade agreement.
June 18, 2019
S&P 500: + 0.97%
Trump and Xi speak over the phone, and both sides agree to reopen trade talks in advance of a planned meeting between the two leaders scheduled for the Group 20 (G20) meeting in Japan at the end of June.
June 29, 2019
S&P 500: + 0.77% (Monday 1 July)
At the G20 meeting in Osaka, the US and China formally agree to resume trade talks after concession from both sides. Trump does not agree with any new tariffs and to ease the restrictions on Chinese telecommunications power houses Huawei Technologies Co Ltd (HWT.UL). China agrees new unspecified purchases of U farm products.
August 1, 2019
S&P 500: -0.90%
After two days of little progressive trade talks and a complaint by Trump that China had not pledged to continue to buy more farm products in the United States, it announces tariffs of 10% on the value of Chinese imports for $ 300 billion, as well as the 25% already levied for $ 250 billion of Chinese goods. Trump says the talks between Washington and Beijing would continue despite the new tariffs, and that the rate could be increased by over 25% in stages.
August 5, 2019
S&P 500: -2.98%
China's Ministry of Commerce responds to the latest U tariffs by stopping the purchase of US agricultural products, while China's yuan currency weakens the level seven per dollar, launching lower equity markets.
After US markets are closed, the Exchequer says. It is the first time since 1994 that China is handling its currency, setting the U.S lower dollar and taking gold prices to six years high.
August 6, 2019
S&P 500: + 1.3%
China's central bank, the People's Bank of China, says that Beijing does not use and does not use the yuan to respond to trade issues. Aide trump senior says U-China trade talks are still planned in Washington in September, and the latest tariffs could still be changed if talks go well, a message that helps calm markets.
August 9, 2019
S&P 500: -0.66%
Trump says that he is not ready to discuss with Beijing and he suggests that he could cancel a person's trade talks scheduled for Washington in September. The US president also says that the US will continue to refrain from doing business with Chinese giant telecommunications, Huawei, who brought back his promise during the meeting with Xi.
But White House official later said that Trump was referring to a ban on US government purchases of Huawei equipment, rather than requests for sales by US companies, which are still being assessed by the Department of Commerce.
August 13, 2019
S&P 500: 1.5%
The Trump administration delays tariffs on about half of China's products on the $ 300 billion dollar list announced on August 1, including laptops and cell phones, to start in September. Instead, these tariffs will be introduced on 15 December and are expected to affect their impact on US holiday sales.
August 23, 2019
S&P 500: -2.6%
China announces that it will impose additional sales tariffs against goods of around $ 75 billion, adding up to a further 10% on top of current rates in response to the U tariffs announced earlier in August.
In response, Trump announces that Washington would increase all current tariffs from 25% to 30%, and that the tariffs scheduled for September and December would replace 15% by 15%.
Compiled by Dan Burns, Jonas Ekblom and Andrea Shalal; Edited by Andrea Ricci and Tom Brown
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