STEEL  Advisory  Partners

Trump Trade War Latest Updates  (July 2019) 

​

• July 11th

President Trump complains that China has not promptly started purchasing American agricultural products.

​

• June 28th

Trump-Xi Summit in Osaka, Japan. After his meeting with the Chinese President Xi Jinping, President Trump declares that the trade negotiations are "back on track" and that he may lift up sanctions on Huawei. No new tariffs will be imposed. 

​

• June 10th

President Trump warns that if Chinese President Xi Jinping does not meet him at the G20 summit (on June 28th and 29th) in Osaka, Japan, more tariffs will be imposed on Chinese goods.

​

• June 2nd

China releases white paper "China's position on the China-US Economic and Trade Consultations". According to Chinese Vice Commerce Minister Wang Shouwen, the actions by the United States stalled the progress on the trade negotiations.

​

• May 31st

China announces that it is creating its own "blacklist" of foreign entities. "Foreign enterprises, organizations and individuals that do not comply with market rules, violate the spirit of contract, block or cut supplies to Chinese firms with non-commercial purposes, and seriously damage the legitimate rights and interests of Chinese enterprises, will be added to the list of unreliable entities," according to Gao Feng, a spokesperson at the Ministry of Commerce.

​

• May 18th

President Trump decided to postpone the potential trade tariffs on European and Japanese cars for another six months. The findings of the Commerce Department on auto tariffs have been finalised and brought to the attention of Trump. Cars from Europe and Japan will be potentially hit by these tariffs. By and large, tariffs will affect the global automotive supply chains.

​

• May 15th

President Trump signed an executive order, declaring a national emergency over threats against American technology. Subsequently the US Department of Commerce put Huawei Technologies and its affiliates into the Bureau of Industry and Security (BIS) Entity List. The impact of this action is that American tech companies and their affiliates have to stop exporting their products and services to Huawei Technologies. 

​

• May 13th

China's retaliation with 25% tariffs imposed on $60 billion American goods.

​

• May 10th

No resolution between the Chinese trade team lead by Vice Premier Liu He with the US team lead by Robert Lighthizer and Steven Mnuchin in Washington. Tariffs on $200 billion Chinese goods raised to 25%. Trump also threatened to impose 25% on another $325 billion of Chinese goods. 

​

• May 5th

President Trump revived the trade war rethoric with China, threatening to raise the tariffs to 25% on $200 billion worth of Chinese goods.

​

• April 10th

Treasury Secretary Steven Mnuchin declared that the US-China trade talks were making progress and that the various trade teams were resolving some key issues.

​

• March 1st

President Trump extended the deadline for further trade talks between the United States and China.