The trade dispute between the U.S. and China has entered a new phase. Here's a timeline of how we got there and what's next.

(Bloomberg)—The trade dispute between the U.S. and China has entered a new phase, with the Trump administration announcing higher tariffs on $34 billion of Chinese imports, and an equivalent response from Beijing.

Without talks, in the next two weeks or so, the U.S. will announce a further $16 billion of goods to be hit with higher duties, and we can expect an equal response from the other side. That’s notwithstanding Trump’s threat to escalate with tariffs on $200 billion more should China retaliate to his first salvo—and of course, they’ve done that.

Here’s a timeline of major developments this year (in reverse chronological order):

  • Coming (maybe): President Donald Trump imposes tariffs on another $200 billion in Chinese exports. In about two weeks, tariffs on $16 billion in imports. Tariffs on $16 billion in imports, depending on U.S. actions.
  • 7/6/2018: Tariffs on $34 billion in imports begin.
  • 7/6/2018: ZTE Corp. receives limited authorization to resume business.
  • 7/3/2018: U.S. computer chip company Micron Technology Inc. ordered to halt sales in China.
  • 6/27/2018: Trump agrees to less aggressive option to limit Chinese investment in the U.S.
  • 6/21/2018: President  Xi Jinping says China will hit back if struck,  according to the Wall Street Journal, and criticizes U.S. Secretary of State Mike Pompeo calling Chinese claims of economic openness “a joke.”
  • 6/20/2018: White House releases report accusing China of threatening U.S. interests.
  • 6/19/2018: Trump says U.S. looking to put tariffs on another $200 billion of Chinese exports, with another $200 billion after that if China retaliates.
  • 6/18/2018: Pompeo calls Chinese claims of economic openness “a joke.”
  • 6/15/2018: U.S. announces tariffs on $50 billion of imports from China, with Trump threatening more if China retaliates. China responds in kind.
  • 6/15/2018: Qualcomm Inc.’s takeover of NXP Semiconductors NV is said to be approved by Chinese regulators, although a later report contradicts this.
  • 6/15/2018: Pompeo  meets Xi, discussing trade and security.
  • 6/7/2018: Commerce Secretary Wilbur Ross announces deal allowing ZTE to get back into business.
  • 6/6/2018: China said to offer to buy $25 billion more in U.S. goods in 2018.
  • 6/3/2018: China says previous offers and deals are off if tariffs imposed.
  • 6/2-4/2018: Wilbur Ross, Chinese Vice Premier Liu He  meet in Beijing for talks.
  • 5/30/2018: China announces cuts to tariffs on some consumer goods, to start July 1.  5/29/2018: U.S. announces plan to limit some visas for Chinese citizens to protect intellectual property.
  • 5/29/2018: U.S.  announces that it’s moving ahead with tariffs on $50 billion of imports and a plan to curb investment in sensitive technology.
  • 5/29/2018: China  said to be considering buying more U.S. coal to narrow trade deficit.
  • 5/28/2018: At the WTO, U.S.  accuses China of imposing laws that result in the theft of U.S. tech and IP.
  • 5/28/2018: China ready to approve Qualcomm/NXP deal if it gets assurances that the U.S. will lift ban on ZTE Corp.
  • 5/28/2018: U.S. said to be pressing China to sign long-term import contracts.
  • 5/25/2018: U.S. announces a $1.3 billion fine and other punishments for ZTE, but will allow company to resume purchasing from American suppliers.
  • 5/23/2018: Trump backs away from the previous day’s deal, saying U.S. will “probably have to use a different structure.”
  • 5/22/2018: China will cut import duties on cars to 15% from 25%.
  • 5/22/2018: Two nations agree on  the “broad outline” of a settlement for ZTE dispute, the WSJ reports. China offered to remove tariffs on U.S. farm products as part of the deal.
  • 5/21/2018: Trump  tweets that China will buy “massive amounts of additional farm/agricultural products.”
  • 5/20/2018: Both nations reach an agreement and issue a joint statement.  The U.S. agrees to hold off on tariffs. China has offered to significantly increase purchases of U.S. goods.
  • 5/18/2018: China  ends anti-dumping and anti-subsidy investigation into sorghum.
  • 5/17/2018: Talks start in Washington.
  • 5/14/2018: China is said to restart review of Qualcomm’s proposed NXP deal.
  • 5/13/2018: Trump tweets that he’s working with Xi to get ZTE “back into business.”
  • 5/10/2018: ZTE ceases major operations in the U.S.
  • 5/3-4/2018: Trade talks in Beijing. No agreement is reached, and no statement is released.  U.S. demands a $200 billion cut in trade deficit. China protests over ZTE case, demands end of 301 investigation.
  • 4/28/2018: China objects to being on U.S. intellectual property watch list.
  • 4/27/2018: U.S. keeps China on IP priority watch list of nations.
  • 4/26/2018: Reported that China may cut car import tariffs by half.
  • 4/26/2018: Reported that U.S. looking into China’s Huawei Technologies Co. for possible violation of sanctions against Iran.
  • 4/17/2018: China announces it will collect anti-dumping tariffs on sorghum imports from the U.S., a trade worth about $1 billion in 2017.
  • 4/16/2018: U.S. penalizes China’s  ZTE for violating a previous agreement punishing it for doing business with Iran and North Korea. The company is  banned from buying U.S. technology for seven years.
  • 4/10/2018: Xi  promises to open up various sectors including autos and finance.
  • 4/5/2018: Trump issues statement that  says “in light of China’s unfair retaliation” for his initial tariffs, his administration will consider an addition $100 billion in tariffs.
  • 4/5/2018: China complains to the World Trade Organization about U.S. tariffs on steel and aluminum imports.
  • 4/4/2018: U.S. responds to China’s WTO complaint on the section 301 tariffs, calling it baseless.
  • 4/4/2018: China complains to WTO about the section 301 tariff action by the U.S.
  • 4/4/2018: China says it will levy an additional 25% tariff on imports of 106 U.S. products including soybeans, automobiles, chemicals and aircraft, in response to proposed American duties on its high-tech goods.
  • 4/3/2018: The U.S. releases a list dominated by high-tech industrial products as targets for proposed tariffs on $50 billion worth of imports. This is aimed at recouping losses from China’s alleged abuse of intellectual property.
  • 4/2/2018: China says it will start levying tariffs on $3 billion of U.S. imports including fresh fruits, nuts, wine and pork. Early April, Liu tells other officials that trade talks between the two parties  broke down after the U.S. demanded that China curtail support for high-technology industries. Beijing had offered to cut the bilateral trade deficit by $50 billion.
  • 3/27/2018: U.S. releases Section 301 report on China.
  • 3/23/2018: China unveils tariffs on $3 billion of U.S. imports in response to steel and aluminum tariffs .
  • 3/23/2018: U.S. complains to WTO about Chinese protection of IP.
  • 3/22/2018: U.S. proposes tariffs in response to China’s “unfair trade practices” related to technology transfer, IP, and innovation; says it will complain to WTO and look at restricting investment from China.
  • 3/9/2018: Trump signs tariffs on imported steel and aluminum from all nations, including China.
  • 2/4/2018: China starts a one-year anti-subsidy investigation into sorghum imported from the U.S.
  • 1/22/2018: U.S. imposes safeguard tariffs on washing machine and solar cell imports. While much of these imports don’t come from China, the statement makes clear that Chinese dominance of the global supply chain was a concern.

 

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