1/21/21 - U.S. accuses China of genocide
12/14/19 - Trump reaches Phase One trade deal with China
8/23/19 - President Donald Trump said he’s raising tariffs further on Chinese imports in response to Beijing’s retaliation earlier in the day, deepening the impasse over the two nations’ trade policies.
Duties on $250 billion of imports already in effect will rise to 30% from 25% on Oct. 1, Trump said in a series of tweets Friday after U.S. markets closed. He also said that the remaining $300 billion in Chinese imports will be taxed at 15% instead of 10% starting Sept. 1.
Friday’s events marked a dramatic escalation in tensions between the U.S. and China after months of failed talks to resolve their trade dispute. It’s unclear whether negotiators will follow through with a plan to meet in Washington next month as relations have continued to sour.
“China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!),” Trump said on Twitter.
Trump’s announcement came after China earlier Friday threatened to impose additional tariffs on $75 billion in American goods, including soybeans, automobiles and oil. The president followed that move with a series of angry tweets in which he said he “hereby ordered” American companies to start looking for alternatives to making products in China, although it’s not clear what authority the president has to issue such an order.
The news from Beijing rekindled concerns about the world’s two largest economies and a global growth outlook that’s already looking shaky. After Trump’s tweets, U.S. stocks dropped -- the S&P 500 Index closed 2.6% down on the day.
China’s newest tariffs came earlier Friday in retaliation for Trump’s latest planned levies on Chinese imports, which have pushed U.S. stocks and commodities lower. The move takes aim at the heart of Trump’s political support -- factories and farms across the Midwest and South at a time when the U.S. economy is showing signs of slowing.
Some of the Chinese countermeasures will take effect starting Sept. 1, while the rest will come into effect from Dec. 15, according to the announcement from China’s Finance Ministry. This mirrors the timetable the U.S. has laid out for 10% tariffs on almost $300 billion of Chinese shipments.
8/23/19 - WASHINGTON/BEIJING (Reuters) - President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.
Trump, who has accused China of unfair trade practices and pushed for a deal that would rebalance the relationship in favor of U.S. manufacturers and workers, said on Twitter he will issue a response to Beijing’s latest tariff plan on Friday afternoon.
“We don’t need China and, frankly, would be far better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP,” Trump tweeted.
“Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”
It’s unclear what legal authority Trump would be able to use to compel U.S. companies to close operations in China or stop sourcing products from the country.
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