The back-and-forth of trade negotiations between the US and China

Winnipeg Free Press

2 days ago

TAIPEI, Taiwan (AP) — The United States and China have extended a trade truce for another 90 days, the latest development in a months-long showdown between the world's two biggest economies.
Both U.S. President Donald Trump and China's Commerce Ministry both announced postponing the date for a further increase of U.S. tariffs on Chinese imports, which are already at a relatively high 30%. Beijing would have likely responded by raising retaliatory levies on U.S. exports to China. The announcement came late Monday in the U.S. and early Tuesday in China.
The pause, which clears the way for a possible meeting later this year between Trump and Chinese President Xi Jinping, is the latest development in a high-stakes back-and-forth of tariff threats and negotiations that have rattled the two economic powerhouses.
Here is a play-by-play of how U.S. and Chinese tariffs and trade truces have unfolded since the beginning of Trump's second term in office:
Feb. 1, 2025
Trump signs an executive order imposing 10% tariffs on China, as well as 25% duties on Mexico and Canada. He later announces a 30-day reprieve on the Mexican and Canadian tariffs.
Feb. 4
The 10% tariffs on all Chinese imports to the U.S. come into effect. China retaliates the same day by announcing a flurry of countermeasures, including duties on American coal, liquefied natural gas and agricultural machinery.
March 4
Trump imposes additional 10% tariffs on all Chinese goods, bringing the total level of duties to 20%. China responds with tariffs of up to 15% on imports of key U.S. farm products including chicken, pork, soy and beef, and expanded controls on doing business with key U.S. companies.
March 10
Chinese tariffs and measures announced on March 4 go into effect.
April 2
On Trump's so-called tariff 'Liberation Day,' he announces additional 34% duties on all Chinese imports, alongside tariffs on goods from countries around the world. The sweeping tariffs are to come into effect April 9.
April 4
China fights back by imposing 34% tariffs on all U.S. goods, effective April 10, as well as other retaliatory measures including more export controls on rare earth minerals.
China also suspends imports of sorghum, poultry and bonemeal from several U.S. companies, adds 27 firms to lists of companies facing trade restrictions, and starts an anti-monopoly probe into DuPont China Group, a subsidiary of the U.S. company DuPont.
April 7
Trump threatens China with additional 50% tariffs if it doesn't roll back its 34% reciprocal tariffs.
April 9
Trump's 'Liberation Day' tariffs come into effect. The U.S. raises tariffs on China even higher than previously announced, to 104%.
Beijing retaliates with duties of 84% on U.S. goods, effective April 10.
Trump further raises tariffs on all Chinese goods to 145%, effective immediately.
April 11
China raises its tariffs on all U.S. goods to 125%, effective April 12. Beijing says it would not raise the duties any further.
May 10-12
Chinese and U.S. trade negotiators meet in Geneva, Switzerland, for talks meant to de-escalate their trade war. The negotiators agree to a 90-day deal to slash massive tariffs and restart stalled trade, setting off a rally in global financial markets. U.S. tariffs on Chinese goods go from 145% down to 30%, and Chinese tariffs on U.S. goods go from 125% to 10%.
June 9-10
Chinese and U.S. trade officials hold two days of negotiations in London, at the end of which they say they have agreed on a framework for resolving their differences. The talks focus on finding a way to resolve disputes over critical minerals and technology exports that had shaken the fragile truce on trade reached in Geneva the previous month.
July 28-29
The two countries hold another round of trade talks, this time in Stockholm. The talks conclude without a deal to prevent tariffs from surging again.
Aug. 11
Trump announces extending a trade truce with Beijing for another 90 days, delaying the showdown once again.