U.S.-China trade battle: Catch up here

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The countries with the two biggest economies are threatening huge tariffs against one another as the world waits anxiously by to see if a trade war will materialize.

The latest salvo came Thursday, when President Donald Trump called for imposing $100 billion in new tariffs on Chinese products.

But a potential trade war between the U.S. and China has been brewing for almost a year.

April 2017 — Trump launches investigation into steel imports

August 2017 — Another investigation tightens the screws on China

A quiet few months

January 2018 — First, solar panels and washing machines

The first major trade action against China comes at the beginning of the year, when the U.S. announces a 30% tariff on imported solar panels -- most of which come from China -- and taxes on large residential washing machines starting at 20%.

February 2018 — Commerce Department proposes tariffs

The department, led by Commerce Secretary Wilbur Ross, proposed a range of tariffs in February 2018 including 24% on steel and 7.7% on aluminium.

March 9, 2018 -— Trump imposes tariffs on steel imports

April 2, 2018 — China hits back

Beijing imposes tariffs on U.S. imports worth around $3 billion, including a 15% duty on 120 American products including fruits, nuts, wine and steel pipes and a 25% tax on eight others, like recycled aluminium and pork.

April 3, 2018 — U.S. threatens to target another $50 billion in Chinese goods

April 4, 2018 — China warns of tariffs on another $50 billion in American goods

April 5, 2018 — Trump calls for targeting another $100 billion in Chinese goods

—CNN's Jackie Wattles contributed to this report.

 

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