Chronology of US-China Tariff Exchanges Since Trump’s First Term

Introduction to the Trade Tensions

The trade relationship between the United States and China has been a focal point of global economic discussions since the beginning of Donald Trump’s presidency. The imposition of tariffs marked a significant shift in US trade policy, aiming to address trade imbalances and intellectual property concerns.

Key Phases of the Tariff Exchanges

Initial Tariff Impositions

• 2018: The US imposed tariffs on $34 billion worth of Chinese goods, marking the start of the trade war.
• Retaliation: China responded with tariffs on an equal value of US exports, targeting key sectors like agriculture.

Escalation and Negotiations

• 2019: Both countries increased tariffs, affecting hundreds of billions in trade. The US targeted consumer goods, while China focused on American agricultural products.
• Trade Talks: Multiple rounds of negotiations took place, with intermittent progress and setbacks.

Phase One Agreement

• January 2020: The US and China signed the Phase One trade deal, which included commitments from China to purchase more American goods and address intellectual property issues.
• Tariff Adjustments: Some tariffs were reduced, but many remained in place, maintaining pressure on both economies.

Impact and Ongoing Developments

The tariff exchanges have had significant impacts on global supply chains, consumer prices, and economic growth. While the Phase One deal provided a temporary reprieve, tensions remain, with ongoing discussions about future trade policies under the Biden administration.

Conclusion

The US-China tariff exchanges have reshaped the economic landscape, highlighting the complexities of global trade relations. As both nations continue to navigate these challenges, the world watches closely, understanding that the outcomes will have far-reaching implications for international commerce and diplomacy.