The deal relaxes some U.S. tariffs on Chinese imports and commits China to buying an additional $200 billion worth of American goods, including agricultural products and cars, over two years. A quick guide to the US-China trade war - BBC News Warns China Over South China Sea, 2017: Trump Affirms One-China Policy After Raising Doubts, 2018: Pence Speech Signals Hard-Line Approach, 2019: U.S. Labels China a Currency Manipulator, 2019: Trump Signs Bill Supporting Hong Kong Protesters, 2020: Tensions Soar Amid COVID-19 Pandemic, 2020: Trump Ends Hong Kongs Special Status, 2020: U.S., China Close Consulates in Diplomatic Escalation, 2020: Pompeo Says Engagement With China Has Failed, 2020: Trump Ramps Up Pressure as Transition Looms, 2021: U.S. The news comes as trade between the U.S. and China continues, but the relationship remains turbulent after the U.S.-China trade war, which began in July 2018 under the Trump. Additionally, the trade war had incurred further costs of $30 billion in taxpayers funds that Trump used to subsidise the country's farmers to compensate for their lost sales to China from 2018 to 2020. Bhmecke-Schwafert, M., Blind, K. The trade effects of product market regulation in global value chains: evidence from OECD and BRICS countries between 2000 and 2015. The call comes weeks after Russia invades Ukraine; during that time, China refuses to condemn Russian President Vladimir Putin for the war and the resulting humanitarian crisis. "[40][41], Technology is considered the most important part of the U.S. US-China trade war timeline of key dates and events since July 2018 Chinese dissident Wei Jingsheng signs a release document in 1993. President Trump has long attacked the trade deficit between the two countries, which in 2018 was $419.2bn (322bn) The deficit means China sells far more to America than the US sends the other way.
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