China President Xi Jinping and US President Donald Trump. (Qilai Shen/Bloomberg)

U.S.-China Trade War: What Led to the Stalemate

(Bloomberg) -- A year into the economic war between the U.S. and China, all signs are that the conflict will continue to get worse, with both sides raising tariffs and signalling an unwillingness to compromise.

Here’s what has happened this year and some possible future events, in reverse chronological order:

DateJoint actionU.S. actionChinese action
28-29/06/2019G-20 summit in Osaka, Japan, provides opportunity for Presidents Xi Jinping
and Donald Trump to meet.
6/17/2019Public hearings on the new round of tariffs before they can be implemented.
6/1/2019Chinese tariffs start on $60 billion of imports start being applied.
Later in MayU.S tariffs on $200 billion to begin. The tariffs apply to goods shipped on or after May 10.
5/13/2019U.S Trade Representative announced details of further tariffs on rest of imports from China.
5/13/2019China announced details of retaliation, to begin June 1.
5/13/2019Trump tweeted, telling Xi to make a deal and threatening worse if China retaliates.
5/12/2019Trump tweeted that U.S. is right where it wants to be with China.
5/12/2019White House economic adviser Larry Kudlow said U.S. negotiators have been invited back to Beijing, although there was no date set. He also said that U.S. consumers and companies feel the impact of tariffs.
5/10/2019Liu told reporters the two sides are divided on three main issues - when U.S. tariffs will end, how much China will buy, and how to ensure the "dignity" of both sides.
5/10/2019Two sides hold further talks.U.S. increased additional tariffs on $200 billion of Chinese goods to 25% from 10%. Ministry of Commerce said in a statement that China is forced to retaliate, but also said it would like to resolve issues through cooperation and negotiations.
5/9/2019Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin held talks and a working dinner.Trump said in Washington that a deal was still possible this week, and he may hold a phone call with Chinese President Xi Jinping.Liu said China wanted to resolve differences with U.S. and "we think there is hope" upon arriving in Washington.
5/9/2019Mofcom spokesman rejected U.S. claims that China has reneged on already-agreed parts of the trade deal with the U.S.
5/8/2019Trump said China "broke the deal" and "they will be paying."
5/6/2019Ministry of Foreign Affairs spokesman said Chinese negotiators are preparing to travel to the U.S. for talks after reports said they may cancel or delay trip.
5/5/2019Trump said he will increase tariffs on $200 billion of Chinese goods to 25% from 10% on May 10 in a series of tweets, as talks are too slow.
5/01/2019Discussions with China remain focused toward making substantial progress on structural issues, and Liu is going to go to Washington for talks starting on May 8, Trump’s spokeswoman said in statement.China and the U.S. will continue high-level talks in Washington next week as planned, state-run Xinhua News Agency reported.
5/01/2019Mnuchin said in tweet that Lighthizer and he concluded productive meetings with Liu.
4/30/2019A senior White House official said the U.S. was ready to walk if it gets no deal with China soon.
4/30/2019Lighthizer and Mnuchin held talks with Liu in Beijing.
4/26/2019Xi promised not to devalue the yuan to harm others and vowed to further open the economy.
4/25/2019Trump said Xi will come to the White House soon.
4/19/2019World Trade Organization found that China didn’t follow proper procedures when it imposed trade restrictions on agricultural imports.
4/17/2019Top U.S. communications regulator urged the rejection of China Mobile Ltd.’s application to provide telecommunications services.
4/15/2019Mnuchin says enforcement mechanism in any trade deal would be reciprocal.
4/6/2019China and U.S. trade talks will continue in "various ways", Xinhua News Agency reported.
4/5/2019Liu said new consensus was reached on the text of China-U.S. economic and trade agreement.
4/4/2019Trump met Liu in the White House and said a trade deal with China could come within four weeks.
4/3/2019Liu in Washington for talks.
3/28-29/2019Lighthizer and Mnuchin in Beijing for talks.
3/24/2019Vice Premier Han Zheng said China will continue to lower tariffs and create a first-rate environment for foreign businesses.
3/22/2019Trump said a trade deal with China is close, but U.S. officials downplayed the prospect of a swift conclusion.
3/20/2019Trump said he’ll keep tariffs on China until he’s sure Beijing is complying with any trade deal.
3/15/2019China approved new foreign investment law.
3/14/2019Liu, Lighthizer and Mnuchin spoke by phone.
3/12/2019U.S. must keep the option of raising tariffs on Chinese imports to ensure China lives up to its promises, Lighthizertold the Senate Finance Committee.
3/12/2019Liu, Lighthizer and Mnuchin spoke by phone.
3/09/2019Vice Commerce Minister Wang Shouwensaid the enforcement mechanism should be "two way, fair and equal."
3/01/2019Trump said he asked China to immediately remove all tariffs on U.S. agricultural products, including beef and pork.
3/01/2019Deadline the U.S. imposed in December to reach a deal.
2/28/2019U.S. scored a victory against China when the World Trade Organization ruled Beijing provided farm subsidies in excess of its international commitments.
2/28/2019USTR to suspend planned tariff on Chinese imports increase ‘until further notice.’
2/27/2019U.S. Agriculture Secretary Sonny Perdue said a trade deal may be ready as Trump and President Xi Jinping may meet "before the end of March."
2/25/2019Trump tweeted that trade deal with China in "advanced stages" after earlier saying he will have a signing summit with Xi.
2/24/2019Trump tweeted that a tariff increase on some Chinese imports planned for March 1 is being delayed.
2/23-24/2019U.S., China trade talks in Washington extended over the weekend.
2/22/2019Liu said trade talks with U.S. "fruitful."Trump and Lighthizer clashed over the meaning of a "memorandum of understanding" in front of reporters and Chinese negotiators at the White House.
2/21-22/2019Liu and other negotiators visited the U.S. for what was initially two days of talks.
2/16/2019Trump said talks in China were "very productive" after team briefed him upon their return.
2/15/2019Xi met Lighthizer and Mnuchin after trade talks in Beijing, hailing progress.
2/14-15/2019Lighthizer, Mnuchin in Beijing for trade talks with Liu.
2/11-13/2019Working-level talks in Beijing.
2/01/2019White House said progress has been made and "much work remains to be done", while reiterating its threat to raise tariffs by March 1.China agreed to increase imports of U.S. agriculture, energy, industrial products and services, Xinhua News Agency reported.
1/31/2019Trump met Liu in White House, said Huawei hasn’t been discussed by the two countries but will feature in talks later.Liu said he hopes to accelerate the 90-day time period the U.S. and China have given themselves to work out a trade deal.
1/31/2019Trump said in a tweet that negotiations are going well, but no deal will be final until he meets with Xi.
1/30-31/2019Liu led Chinese delegation to talks with Lighthizer, Mnuchin in Washington.
1/28/2019Liu arrived in Washington, with some high-level officials.
1/24/2019Commerce Secretary Wilbur Rosssaid the two sides are "miles and miles" from a resolution.
1/24/2019China said it will grant new banking licenses to foreign banks within the next six months.
1/10/2019Chinese statement merely said meeting "laid the foundation for resolving mutual concerns."
1/9/2019Talks ended in Beijing.U.S. statement emphasized Chinese commitment to buy more goods and how to verify any agreement is enforced.
1/7-9/2019Mid-level officials met for talks in Beijing.
1/6/2019A state-owned microchip manufacturer pleaded not-guilty in a U.S. court on charges of stealing trade secrets.

Click here to read what happened last year: U.S.-China Trade War Timeline: What’s Happened and What’s Next

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