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Trump, China trade war: tariffs pushed on $200 billion of goods despite talks

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trump xi us china shipping containers 2x1Mark
Wilson/Getty; Naohiko Hatta/Getty; Shayanne Gal/Business
Insider

  • President Donald Trump instructed aides to move forward with
    tariffs on $200 billion worth of Chinese goods despite new trade
    talks with Beijing, according to Bloomberg.
  • Trump told reporters that tariffs were coming “soon” last
    week, but final details about which goods the tariffs would apply
    to have delayed their imposition.
  • Stocks fell in reaction to the report.

President Donald Trump wants to move forward with tariffs on $200
billion worth of Chinese goods despite new overtures to the
Chinese from the Treasury Department.

According to Bloomberg, the president instructed aides to move
forward with the tariffs despite a recent Treasury letter to
Chinese officials requesting a new round of trade talks.

The final imposition of the tariffs has been delayed because the
US Trade Representative has been tweaking the final list of goods
to which the tariffs would apply.


Trump has also threatened
to impose tariffs on an additional
$267 billion worth of Chinese goods, which would mean all Chinese
imports to the US would be subject to duties.

In response to the report, US stocks indexes fell, with the Dow
Jones industrial average falling 35 points, nearly 100 points
from its high on the day.

Here’s a timeline of the US-China trade war so far:

  • March 1: President Donald
    Trump announces tariffs on all imports of
    steel and aluminum
    , including metals from China.
  • March
    22:
     Trump announces
    plans
     to impose 25% tariffs on $50
    billion worth of Chinese goods. China announces
    tariffs
     in retaliation to the steel and
    aluminum duties and promises a response to the latest US
    announcement.
  • April 3: The US trade
    representative announces a list of Chinese
    goods
     subject to the tariffs. There is
    a mandatory 60-day comment period for industries to ask for
    exemptions from the tariffs.
  • April
    4:
     China rolls out a
    list
     of more than 100 US goods worth
    roughly $50 billion that are subject to retaliatory tariffs.
  • May 21: After a meeting,
    the two countries announce the outline of a
    trade deal
     to avoid the tariffs.
  • May 29: The White House
    announces that the tariffs on $50 billion of Chinese
    goods will move forward, with
    the final list of goods released June 15. The move appears to
    wreck the nascent trade deal.
  • June 15: Trump rolls out
    the final list of goods subject to
    new tariffs
    . Chinese imports worth $34 billion would be
    subject to 25% tariffs as of July 6, with another $16 billion
    worth of imports subject to the tariffs at a later
    date. China
    retaliates
     with an equivalent set of
    tariffs.
  • June
    18:
     Trump threatens 10%
    tariffs
     on another $200 billion worth
    of Chinese goods.
  • July 6: The first tranche
    of tariffs on $34 billion worth
    of Chinese goods
     takes
    effect; China responds in kind.
  • July
    10:
     The US releases an initial
    list
     of an additional $200 billion
    worth of Chinese goods that could be subject to 10% tariffs.
  • August 1: Washington more
    than doubles
    the value of its tariff threats
     against
    Beijing, announcing plans to increase the size of proposed
    duties on $200 billion worth of Chinese goods to 25% from
    10%.
  • August
    3:
     China says
    it will impose tariffs
     of various rates
    on another $60 billion worth of US goods if Trump moves
    forward with his latest threat.
  • August 7: The US announces
    that the second tranche of tariffs, which will hit $16
    billion worth of Chinese goods, will take effect August 23.
  • August
    23:
     The US
    imposes tariffs
     on another $16 billion
    worth of Chinese goods, and Beijing responds with tariffs on
    $16 billion worth of US goods.
  • September 7: Trump says the $200 billion
    tranche of tariffs is coming “soon” and
    threatens to impose tariffs
    on another $267 billion worth
    of Chinese goods.
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