August 8, 2018
China Revises Its $50 Billion Tariff List,
Removing Crude Oil
China revises the second tranche of its June 15 list of $50 billion
of imports from the United States with which it planned to
impose 25 percent tariffs. Crude oil was removed and replaced
with a number of other products.
August 13, 2018
US Passes Law on Trade and National Security
Trump signs the John S. McCain National Defense Authorization
Act For Fiscal Year 2019 into law, which contains two key
provisions on monitoring some foreign investments in the United
States (FIRRMA) and outbound transfers of technology (ECRA).
August 23, 2018
US and China Impose Second Phase of $50 Billion Tariffs
The Trump administration followed through with imposing
tariffs on $16 billion of imports from China, the second
phase of the revised $50 billion list released June 15. China
immediately responded with its own revised tariffs on $16
billion of US exports, also announced on June 15. These
actions complete each country’s first $50 billion of tariffs
originally announced in April.
September 17, 2018
Trump Finalizes $200 Billion Tariff List
President Trump finalizes the list of products on $200 billion of
imports from China that will be subject to a 10 percent tariff that
goes into effect on September 24. Trump also announced the
rate will increase to 25 percent on January 1, 2019.
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September 18, 2018
China Finalizes Tariffs on $60 Billion of US Goods
China announced its plan to place tariffs on $60 billion of US
exports if Trump goes ahead with his recently finalized tariffs on
$200 billion of Chinese exports.
September 24, 2018
Next Phase of Tariffs Goes into Effect
US tariffs on $200 billion of Chinese imports announced on
September 17 take effect, along with retaliatory tariffs by China
on $60 billion of US imports announced on September 18. The
United States now has tariffs on 12 percent of its total imports
during 2018, while the combined trading partner retaliation
covers of total US exports.
December 1, 2018
US-China Tariff Truce
After the G-20 meeting in Buenos Aires, Presidents Trump
and Xi announce a deal to halt the escalation of tariffs that
were expected in January while they negotiate over trade
concerns. The US statement says that if no agreement is
reached by March 1, 2019, the 10 percent tariffs will be
raised to 25 percent.
February 15, 2019
Almost 15 Percent of US Imports Are Now Protected
In 2018, Trump’s actions combined with already existing
tariffs have resulted in 14.9 percent of US goods imports
covered by some form of trade protection, based on 2017
import data. Trump’s actions alone covered $303.7 billion,
or 12.6 percent.
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