(Reuters) - U.S. President Donald Trump and Chinese Vice Premier Liu He
are expected to sign a Phase 1 trade deal Wednesday morning in Washington after a bruising 18-month trade war that has slowed global growth, disrupted supply chains, and slashed profits for U.S. farmers.
The deal will not eliminate most of the hundreds of billions of dollars in tariffs that have damaged the global economy, but it is expected to mark a new phase of cooperation between the two countries.
Here are some key moments in the roller-coaster trade relationship between the world’s two largest economies.
June 28, 2016
Trump lays out plans here to counter unfair trade practices from China at a campaign rally in Pennsylvania, and previews moves to apply tariffs under sections 201 and 301 of the 1974 Trade Act.
March 31, 2017
Trump, now president, calls for tighter tariff enforcement in anti-subsidy and anti-dumping cases and a review of U.S. trade deficits.
April 6 and 7, 2017
At their first meeting, Trump and Chinese President Xi Jinping agree to a 100-day plan for trade talks.
July 19, 2017
The two sides fail to agree on new steps to reduce the U.S. trade deficit with China within 100 days.
Aug. 14, 2017
Trump orders here a "Section 301" probe into alleged Chinese intellectual property theft.
Jan. 22, 2018
Trump imposes tariffs on all imported washing machines and solar panels - not just those from China.
March 8, 2018
Trump orders 25% tariffs on steel imports and 10% on aluminum from all suppliers - not just China.
April 2, 2018
China imposes tariffs of up to 25% on 128 U.S. products including airplanes and soybeans.
April 3, 2018
Trump unveils plans for 25% tariffs on about $50 billion of Chinese imports.
April 4, 2018
China responds with plans for retaliatory tariffs on about $50 billion of U.S. imports.
June 15, 2018
The United States says that 25% levies on $34 billion of Chinese imports will go into effect July 6, and announces 25% tariffs on an additional $16 billion of goods. China responds with tariffs on $34 billion of U.S. goods.
July 10, 2018
The United States unveils plans for 10% tariffs on $200 billion of Chinese imports.
Aug. 1, 2018
Trump orders the July 10 tariffs to increase to 25%.
Aug. 7, 2018
The United States releases a list of $16 billion of Chinese goods to be taxed by 25%. China retaliates with 25% duties on $16 billion of U.S. goods.
Sept. 24, 2018
The 10% tariffs on $200 billion of Chinese imports kick in. The administration says the rate will increase to 25% on Jan. 1, 2019. China taxes $60 billion of U.S. goods.
Dec. 1, 2018
The United States and China agree on a 90-day halt to new tariffs. Trump agrees to postpone the Jan. 1 increase on $200 billion of Chinese goods; the White House says China will buy a “very substantial” amount of U.S. products.
April 30 and May 1, 2019
U.S. and Chinese negotiators hold mid-week trade talks in Beijing, craft a 150-page draft trade agreement.
May 3, 2019
In a late-night cable to Washington, Beijing backtracks on almost all aspects of the draft trade pact.
May 5, 2019
Trump tweets that he intends to raise the tariffs on $200 billion of Chinese goods to 25% on May 10.
May 16, 2019
The U.S. bans Chinese telecoms giant Huawei Technologies Co Ltd [HWT.UL] from buying parts and components from U.S. companies.
June 18, 2019
Trump and Xi agree by phone to rekindle trade talks.
June 29, 2019
At the G20 meeting in Osaka, Trump agrees to no new tariffs and to ease restrictions on Huawei. Xi agrees to unspecified new purchases of U.S. farm products.
Aug. 1, 2019
Trump announces 10% tariffs on $300 billion worth of Chinese imports, after two days of talks with no progress.
Aug. 5, 2019
China halts purchases of U.S. agricultural products, and the Chinese yuan weakens past the key seven per dollar level. Equity markets plummet.
The U.S. Treasury says China is manipulating its currency.
Aug. 13, 2019
Trump postpones some of the 10% tariffs on the $300 billion goods list until Dec. 15.
Aug. 23, 2019
China announces additional retaliatory tariffs on about $75 billion worth of U.S. goods.
Sept. 20, 2019
After a two-day meeting of U.S. and Chinese deputies, USTR issues tariff exclusions on about 400 Chinese products.
The U.S. Commerce Department puts 28 Chinese companies on its “entity list,” over their alleged involvement in human rights abuses against Uighur Muslims in Xinjiang.
After two days of high-level talks, Trump announces a Phase 1 deal that includes suspension of planned tariffs and a Chinese pledge to buy more farm goods, but few details.
Reporting by Heather Timmons; Editing by Leslie Adler
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