exchange rate is determined by market supply and demand.”Day 392: August 1, 2019 – Trump says US will impose 10 percent tariffs on another US$300 billion of Chinese goods starting September 1“The U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country,” said Trump in a tweet.The surprise tariff announcement comes after the US and China ended trade talks in Shanghai just the day before. Following the meeting, the White House described the discussions as “constructive,” adding that China confirmed their commitment to increasepurchases of US agricultural exports.If imposed, this round tariffs will affect nearly all China’s imports to the US, including electronic and clothing consumer goods.Trump also threatened to raise tariffs to as much as 25 percent on US$250 billion worth of goods if China fails to move more quickly to reach a trade deal.Day 390-391: July 30-31, 2019 – Shanghai trade talks end with little progress being made US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He met in Shanghai for two-day trade talks. This is the first face-to-face interaction since Xi and Trump met at the G20 Summit in June, and the firstofficial high-level negotiation since May, this year.As most analysts predicted, the talks ended with little progress. Both sides agreed to keep talking and will meet again in September.The talks centered around goodwill gestures, such as Chinese commitments to purchase US soybeans, pork, ethanol, and other agricultural commodities, and the US’
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promise to ease sanctions on Chinese telecoms equipment giant Huawei Technologies Co Ltd.The White House released a statementconfirming China’s commitment to increase purchases of US agricultural exports, though no details were provided. China, also confirmedthe discussion of procuring US agricultural products, but did not specify as to whether an agreement was made.Day 376: July 16, 2019 – Trump threatens tariffs on US$325 billion of Chinese goods, new member on China’s negotiating teamPresident Trump once again threatens to slap tariffs on another US$325 billion of Chinese goods, despite promises not to following the truce after the G20 Summit, only two weeks prior.Meanwhile, China suddenly adds a new member to its negotiating team — commerce minister, Zhong Shan — viewed as a hardliner by many officials in Washington. Zhong was present at last month’s G20 summit and took part in a telephone conversation with US representatives last week.Day 369: July 9, 2019 – US exempts 110 Chinese products from 25 percent tariffs, issues licenses to American Huawei suppliers The Trump Administration announcesthat it will exempt 110 Chinese products, including medical equipment for cancer, from the 25 percent tariffs that were added on July 6, 2018. The exemption will be valid for a year from July 9, 2019.
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