August 9, 2019 / 5:52 PM / 4 months ago

TIMELINE-Key dates in the U.S.-China trade war

 (Updates Aug. 9 entry on Huawei, adds S&P 500 closing level)
    Aug 9 (Reuters) - Hopes for an early settlement of the
yearlong U.S.-China trade war dimmed this week after the United
States accused China of manipulating its currency, and U.S.
President Donald Trump said he would not make a deal with
Beijing for now.
    Over the past year, Washington has imposed 25% tariffs on
$250 billion worth of Chinese products, and Trump has announced
new tariffs on the remaining $300 billion of Chinese imports to
take effect on Sept. 1. That means virtually every Chinese
import will have a tariff levied on it come September.
    The following timeline details key moments in the souring
trade relationship between the world's two largest economies.
    
    June 28, 2016
    S&P 500: +1.78%
    While campaigning for the White House, Trump lays out plans
to counter unfair trade practices from China at a rally in
Pennsylvania. He also threatens to apply tariffs under sections
201 and 301 of U.S. trade legislation, which he subsequently
does. He says China’s entrance into the World Trade Organization
enabled the "greatest jobs theft in history." 

    March 31, 2017
    S&P 500: -0.23%
    Trump, now president, signs two executive orders. One calls
for tighter tariff enforcement in anti-subsidy and anti-dumping
trade cases. The other orders a review of U.S. trade deficits
and their causes.

    April 7, 2017
    S&P 500: -0.08%
    At their first meeting at Trump's Mar-a-Lago estate in
Florida, Trump and Chinese President Xi Jinping agree to a
100-day plan for trade talks.

    July 19, 2017
    S&P 500: +0.54%
    The two sides fail to agree on new steps to reduce the U.S.
deficit with China after the 100 days of talks.

    Aug. 14, 2017
    S&P 500: +1.00%
    Trump orders "Section 301" probe into alleged Chinese
intellectual property theft, described as his first direct trade
measure against Beijing. Section 301 refers to the part of a
1974 trade law that lays out how the United States should
enforce its rights under trade agreements.

    Jan. 17, 2018
    S&P 500: +0.94%
    Trump, in a Reuters interview, threatens a big "fine" on
China over alleged IP theft, without providing details.

    Jan. 22, 2018
    S&P 500: +0.81%
    Trump imposes tariffs on all imported washing machines and
solar panels - not just those from China.

    March 8, 2018
    S&P 500: +0.45%
    Trump orders 25% tariffs on steel imports and 10% on
aluminum from all suppliers - not just China.

    April 2, 2018
    S&P 500: -2.23%
    China imposes tariffs of up to 25% on 128 U.S. products.

    April 3, 2018
    S&P 500: +1.26%
    Trump unveils plans for 25% tariffs on about $50 billion of
Chinese imports.

    April 4, 2018
    S&P 500: +1.16%
    China responds with plans for retaliatory tariffs on about
$50 billion of U.S. 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% tariffs
will also kick in on an additional $16 billion of goods after a
public comment period. China responds in kind with tariffs on
$34 billion of U.S. goods.

    July 10, 2018
    S&P 500: +0.35%
    The United States unveils plans for 10% tariffs on $200
billion of Chinese imports.

    Aug. 1, 2018
    S&P 500: -0.10%
    Trump orders USTR to increase the tariffs on $200 billion of
Chinese imports to 25% from the originally proposed 10%.

    Aug. 7, 2018
    S&P 500: +0.28%
    The United States releases the list of $16 billion of
Chinese goods to be subject to 25% tariffs. China retaliates
with 25% duties on $16 billion of U.S. goods.

    Aug. 23, 2018
    S&P 500: -0.17%
    Tariffs on goods appearing on the Aug. 7 lists from both the
United States and China take effect.

    Sept. 7, 2018
    S&P 500: -0.22%
    Trump threatens tariffs on $267 billion more of Chinese
imports.

    Sept. 24, 2018
    S&P 500: -0.35%
    The United States implements 10% tariffs on $200 billion of
Chinese imports. The administration says the rate will increase
to 25% on Jan. 1, 2019. China answers with duties of its own on
$60 billion of U.S. goods.

    Dec. 1, 2018
    S&P 500: +1.09% (Monday, Dec. 3)
    The United States and China agree on a 90-day halt to new
tariffs. Trump agrees to put off the Jan. 1 scheduled increase
on tariffs on $200 billion of Chinese goods until early March
while talks between the two countries take place. China agrees
to buy a "very substantial" amount of U.S. products.

    Feb. 24, 2019
    S&P 500: +0.12% (Monday, Feb 25)
    Trump extends the March 1 deadline, leaving the tariffs on
$200 billion of Chinese goods at 10% on an open-ended basis.

    May 5, 2019
    S&P 500: -0.45% (Monday, May 6)
    Trump tweets that he intends to raise the tariffs rate on
$200 billion of Chinese goods to 25% on May 10.
    
    May 8, 2019
    S&P 500: -0.16%
    The Trump administration gives formal notice of its intent
to raise tariffs on $200 billion of Chinese imports to 25% from
10%, effective May 10.              
    Earlier, Reuters reported that China had backtracked on
almost all aspects of a draft U.S.-China trade pact.
            
    
    June 18, 2019
    S&P 500: +0.97%
    Trump and Xi speak by phone, and the two sides agree to
rekindle trade talks ahead of a planned meeting between the two
leaders scheduled for the Group of 20 (G20) summit in Japan at
the end of June.

    June 29, 2019
    S&P 500: +0.77% (Monday, July 1)
    At the G20 meeting in Osaka, the United States and China
formally agree to restart trade talks after concessions from
both sides. Trump agrees to no new tariffs and an easing of
restrictions on Chinese telecom powerhouse Huawei Technologies
Co Ltd         . China agrees to unspecified new purchases of
U.S. farm products.
    
    Aug. 1, 2019
    S&P 500: -0.90% 
    After two days of trade talks with little progress and
complaints by Trump that China has not followed through on a
promise to buy more U.S. farm products, he announces 10% tariffs
on $300 billion worth of Chinese imports, in addition to the 25%
already levied on $250 billion worth of Chinese goods. Trump
says the talks between Washington and Beijing would continue
despite the new tariffs, and that the rate could be increased
above 25 percent in stages. 
    
    Aug. 5, 2019
    S&P 500: -2.98%
China's Commerce Ministry responds to the latest U.S. tariffs by
halting purchases of U.S. agricultural products, and the Chinese
currency, the yuan, weakens past the key seven per dollar level,
sending equity markets sharply lower.             
    After U.S. markets close, the U.S. Treasury says it has
determined for the first time since 1994 that China is
manipulating its currency, knocking the U.S. dollar sharply
lower and sending gold prices to a six-year high.             
    
    Aug. 6, 2019
    S&P 500: +1.3%
    China's central bank, the People's Bank of China, says
Beijing has not and will not use the yuan to respond to trade
frictions. A senior Trump aide says U.S.-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.               
    
       
    Aug. 9, 2019
    S&P 500: -0.66% 
    Trump says he is not ready to make a deal with Beijing and
suggests he may cancel in-person trade talks with China
scheduled for Washington in September. The U.S. president also
says the United States will continue to refrain from doing
business with Chinese telecoms equipment giant Huawei, an
apparent rollback of his promise during the meeting with Xi.
             
    But a White House official later says that Trump was
referring to a ban on U.S. government purchases of Huawei
equipment, not requests for sales by U.S. companies, which are
still being assessed by the Commerce Department.             

    
 (Compiled by Dan Burns, Jonas Ekblom and Andrea Shalal; editing
by Peter Cooney and Steve Orlofsky)
  
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