August 23, 2019
China Retaliates and Trump Announces More Tariffs
China releases its plan to retaliate on $75 billion of US exports,
effective September 1 and December 15, 2019, in response to
Trump’s forthcoming tariffs on $300 billion of Chinese goods.
The most significant change is that China will increase its
average tariff on US autos from 12.6 to 42.6 percent. Later the
same day, Trump said he would apply a 15 percent tariff, not
10 percent, on the $112 billion list on September 1 (includes
clothing, shoes, other back-to-school items) and the $160 billion
list on December 15 (includes toys, consumer electronics). He
also said the current 25 percent tariff on $250 billion of Chinese
goods will increase to 30 percent, starting October 1.
September 11, 2019
China Removes a Few Tariffs, Trump Moves Date
China announces it will exclude 16 products (less than $2 billion
of US exports) from its retaliatory tariffs imposed in 2018, such
as some animal feeds, chemicals, and petroleum products.
President Trump plans to delay his tariff increase on $250 billion
of Chinese imports from 25 to 30 percent, originally set out on
August 23, 2019, from October 1 to October 15.
October 11, 2019
Trump Cancels October Tariffs, Points to
“Phase One” of Deal with China
Trump announces the October 15 tariff increase on $250 billion
of US imports from China (25 percent raised to 30 percent)
will not go ahead as planned. He also states negotiations had
resulted in a forthcoming “substantial phase one deal” with
China, “subject to getting it written.”
December 13, 2019
Trump Calls Off December Tariffs in Anticipation of Deal
Trump calls off the scheduled December 15 tariff increase and
indicates his administration and China have reached agreement
on the legal text of an 86-page deal that will be signed in January
2020.
January 15, 2020
Leaders Sign Phase One Deal
Under the agreement, China agrees to purchase the
extraordinary amount of an additional $200 billion worth of
US exports. Most tariffs remain in effect, and China does not
address subsidies or state-owned enterprises—major issues that
prompted the trade war.
February 14, 2020
Phase One Deal Goes into Effect
Average US tariffs on imports from China remain more than six
times higher than before the trade war began in 2018. Average
Chinese tariffs on down only slightly from when the deal was
announced in December 2019. Chinese commitments to buy
an additional $200 billion of US exports will likely rely heavily on
purchases by state-owned enterprises.
Article by Chad P. Bown and Melina Kolb, Peterson Institute for
International Economics. www.piie.com
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