Page 20 - 2019 White Paper on the Business Environment in China
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9 White Paper on the Business Environment in China
reportedly agreed to buy more US goods but that only US$ billion worth of Chinese imports (SCMP). China
lasted just over a week when the US announced it would announced new punishments for intellectual property
reinstate its tariff plans. theft. Foreign Minister Wang Yi China agreed to increase
US imports. White House Spokesman Sarah Huckabee
June 4-7, 2018: Two days of trade talks were held Sanders claimed China also agreed to immediately
between US and China in Beijing. Two days later the US restart buying agricultural products, buy substantial
and ZTE agreed to a deal that would allow ZTE to resume farm, energy, industrial and other products from the US,
business (United States). and reconsider the Qualcomm-NXP takeover deal (that
China had previously declined to approve) if it were
June 15-16, 2018: Both countries finalize and update presented again.
their plans for tariffs.
December 5, 2018: Media reported that Canada had
July 6, 2018: Customs and Border Protection (CBP) arrested Huawei’s Meng Wanzhou at the request of the
began collecting a 25 percent tariff on 818 imported US on December 1, just before the summit between
Chinese products valued at US$34 billion – giving effect Trump and Xi. She is later released on bail.
to the first round of tariffs, which were revised and
announced on June 15, 2018. Meanwhile, the second December 13, 2018: China ordered between 1.5 and
round of tariffs remained under review that proposes 2 million tons of soybeans from the US.
implementing a 25 percent tariff on 284 Chinese products
(worth US$16 billion). Commodities targeted in this December 24-25, 2018: China cut tariffs on more
round of tariffs include: iron or steel products, electrical than 700 US imports and resumed imports of LNG and
machinery, railway products, instruments and apparatus. crude oil from the US. China also pledged to treat all
China immediately took retaliatory measures by imposing foreign, private Chinese companies and state-owned
a 25 percent tariff on 545 goods originating from the US enterprises equally.
(worth US$34 billion), including agricultural products,
automobiles and aquatic products (Wong and Koty). January 8, 2019: Media reported that Trump wanted
a deal with China finished to boost the stock market. He
August 2018: Business leaders in both countries also tweeted that talks are going well.
called for a resolution, but a series of trade talks in
Washington yielded no new breakthrough. January 9, 2019: Talks ended in Beijing. US released
a statement that emphasized Chinese commitment to
September 2018: The US imposed tariffs on US$200 buy more goods and how to verify and enforce China’s
billion in Chinese products. Beijing responded by follow-through on any commitments it made.
targeting US$60 billion in US goods. Analysts said China’s
US$110 billion total targeted industries, including a 25 January 15, 2019: Media reported that China has
percent duty on American soybeans, were aimed at asked some state-run companies to avoid business trips
Trump’s political base. The new tariffs created an impasse. to the US and its allies.
November 2018: Beijing cancelled scheduled talks January 17-19, 2019: Media reported that the
and thus officials signaled that they would not return to two sides had made little progress on questions of
the negotiating table unless China had a firm proposal. intellectual property and other obstacles.
Chinese Vice-Premier Liu He called off a planned meeting
in Washington just before the G20 summit, pinning January 24, 2019: China said it would grant new
everything on talks in Buenos Aires. banking licenses to foreign banks within six months.
US Commerce Secretary Wilbur Ross claimed that both
December 1-4, 2018: Presidents Trump and Xi sides were eager to end their trade war but the outcome
agreed to a 90-day trade truce at a G20 summit dinner would hinge on whether Beijing would deepen economic
meeting in Buenos Aires, Argentina. They agreed not reforms and further open up its markets (Bloomberg).
to add additional duties after January 1, 2019. This was
the day that Washington was set to raise tariff rates on
20
reportedly agreed to buy more US goods but that only US$ billion worth of Chinese imports (SCMP). China
lasted just over a week when the US announced it would announced new punishments for intellectual property
reinstate its tariff plans. theft. Foreign Minister Wang Yi China agreed to increase
US imports. White House Spokesman Sarah Huckabee
June 4-7, 2018: Two days of trade talks were held Sanders claimed China also agreed to immediately
between US and China in Beijing. Two days later the US restart buying agricultural products, buy substantial
and ZTE agreed to a deal that would allow ZTE to resume farm, energy, industrial and other products from the US,
business (United States). and reconsider the Qualcomm-NXP takeover deal (that
China had previously declined to approve) if it were
June 15-16, 2018: Both countries finalize and update presented again.
their plans for tariffs.
December 5, 2018: Media reported that Canada had
July 6, 2018: Customs and Border Protection (CBP) arrested Huawei’s Meng Wanzhou at the request of the
began collecting a 25 percent tariff on 818 imported US on December 1, just before the summit between
Chinese products valued at US$34 billion – giving effect Trump and Xi. She is later released on bail.
to the first round of tariffs, which were revised and
announced on June 15, 2018. Meanwhile, the second December 13, 2018: China ordered between 1.5 and
round of tariffs remained under review that proposes 2 million tons of soybeans from the US.
implementing a 25 percent tariff on 284 Chinese products
(worth US$16 billion). Commodities targeted in this December 24-25, 2018: China cut tariffs on more
round of tariffs include: iron or steel products, electrical than 700 US imports and resumed imports of LNG and
machinery, railway products, instruments and apparatus. crude oil from the US. China also pledged to treat all
China immediately took retaliatory measures by imposing foreign, private Chinese companies and state-owned
a 25 percent tariff on 545 goods originating from the US enterprises equally.
(worth US$34 billion), including agricultural products,
automobiles and aquatic products (Wong and Koty). January 8, 2019: Media reported that Trump wanted
a deal with China finished to boost the stock market. He
August 2018: Business leaders in both countries also tweeted that talks are going well.
called for a resolution, but a series of trade talks in
Washington yielded no new breakthrough. January 9, 2019: Talks ended in Beijing. US released
a statement that emphasized Chinese commitment to
September 2018: The US imposed tariffs on US$200 buy more goods and how to verify and enforce China’s
billion in Chinese products. Beijing responded by follow-through on any commitments it made.
targeting US$60 billion in US goods. Analysts said China’s
US$110 billion total targeted industries, including a 25 January 15, 2019: Media reported that China has
percent duty on American soybeans, were aimed at asked some state-run companies to avoid business trips
Trump’s political base. The new tariffs created an impasse. to the US and its allies.
November 2018: Beijing cancelled scheduled talks January 17-19, 2019: Media reported that the
and thus officials signaled that they would not return to two sides had made little progress on questions of
the negotiating table unless China had a firm proposal. intellectual property and other obstacles.
Chinese Vice-Premier Liu He called off a planned meeting
in Washington just before the G20 summit, pinning January 24, 2019: China said it would grant new
everything on talks in Buenos Aires. banking licenses to foreign banks within six months.
US Commerce Secretary Wilbur Ross claimed that both
December 1-4, 2018: Presidents Trump and Xi sides were eager to end their trade war but the outcome
agreed to a 90-day trade truce at a G20 summit dinner would hinge on whether Beijing would deepen economic
meeting in Buenos Aires, Argentina. They agreed not reforms and further open up its markets (Bloomberg).
to add additional duties after January 1, 2019. This was
the day that Washington was set to raise tariff rates on
20
