HomeWorldAmericaHow Trump and Xi went from tariff war to trade truce

How Trump and Xi went from tariff war to trade truce

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BEIJING, Sept 21 (Reuters) - Chinese leader ‌Xi Jinping is set to meet US President Donald Trump at the White ​House on Thursday for talks aimed at keeping a fragile trade truce that is due to expire in November on track. 

Here ⁠is a look back at key moments in the US-China trade war:

February 2025 - In one of his first moves since returning to office, Trump imposes a 10% duty on Chinese goods over fentanyl and ​immigration concerns. China responds with levies on US coal, LNG, crude oil and autos, and curbs exports of five metals key ‌to defense and clean energy.

March 2025 - The US doubles fentanyl-related tariffs on China to 20%. China retaliates with 10%-15% levies on US agriculture, hitting $21 billion in exports.

April 2025 - Trump unveils sweeping "Liberation Day" tariffs, including 34% on China, effective ⁠April 9. China retaliates with matching tariffs, and both sides escalate rapidly: US tariffs rise ⁠to 84% then 125%; China's climb to 84% then 125%. Beijing also curbs rare-earth exports and warns citizens against US travel.

May 2025 - Talks in Geneva conclude with a 90-day pause, cutting US tariffs on Chinese goods to 30% from 145%, while China cuts its tariffs to 10% from 125%. The pause is extended for ‌another 90 days in August.

October 2025 - China widens rare-earth export controls. Trump responds with an additional 100% ⁠tariff and export controls on critical software, while threatening curbs on Boeing ‌parts.

October 2025 - Later that month, Trump and Xi strike a trade ​truce after talks in South Korea. Trump agrees to trim tariffs in exchange for Beijing cracking down on fentanyl precursors, resuming soybean purchases and pausing rare-earth export controls.

February 2026 - The US Supreme Court rules against ‌Trump's emergency tariffs, striking down the China fentanyl tariffs and the reciprocal ​tariff regime. Trump responds with a temporary ⁠10% global duty under a different statute.

May 2026 - Trump visits Beijing for a summit ‌with Xi. The two sides announce plans to create ⁠new Boards of Trade and Investment, while China agrees to purchases of Boeing jets and US farm products.

July 2026 - The US imposes new 12.5% tariffs on goods from 60 trading partners, including China, over allegations those ​countries failed to curb imports made ‌by forced labour. 

September 2026 - Trump is set to host Xi at the White House on September 24. While ⁠both sides have tempered expectations for major breakthroughs, ​investors and analysts are watching for signs of an extension of the trade truce.

(Reporting by Joe ​Cash and John Geddie; Editing by Lincoln Feast.)

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