Trump's trade war with China in focus ahead of May summit
The confrontation between the world's two top economies has evolved from slapping tit-for-tat tariffs to managing tensions following numerous rounds of trade talks
US President Donald Trump is due to meet Chinese President Xi Jinping in May during his first visit to China in eight years, a closely watched trip that comes just a year after Washington rolled out sweeping and at times erratic global tariffs.
The confrontation between the world's two top economies has evolved from slapping tit-for-tat tariffs to managing tensions following numerous rounds of trade talks, as well as phone calls and a meeting between their presidents last year.
Developments this year
Keep updated, follow The Business Standard's Google news channel
March - US launches new Section 301 unfair trade probes into Chinese industries. China responds with reciprocal investigations. Plans for a summit between Trump and President Xi Jinping were underway but Trump delays Beijing visit to mid-May as the Iran war continues.
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer meet Chinese Vice Premier He Lifeng and top trade negotiator Li Chenggang in Paris for a sixth round of talks that both sides described as "constructive."
February - US Supreme Court rejects Trump's global tariff regime. Trump indicates he will still use tariffs.
June-August - Trump says trade truce was back on track after some Chinese rare earth magnet producers begin to receive export licences. US starts issuing licences to Nvidia to export its advanced artificial intelligence chips to China, while Trump urges China to quadruple US soybean purchases. Tariff truce was extended another 90 days.
May - At the first round of trade talks, held in Geneva, both sides strike a 90-day truce that allowed lofty tariffs to come down. Three weeks later, Trump says China violated an agreement to mutually roll back tariffs and ease curbs on critical minerals exports. China says US had introduced multiple "discriminatory restrictive" measures against China.
April - After returning to office with a 10% punitive tariff on Chinese goods, Trump announces at the start of April sweeping "Liberation Day" tariffs on all imports that hurt relations with China more. China retaliates and both countries take turns raising levies against each other to exceed 100%. China also begins restricting some rare earth exports.
