TAIPEI, Taiwan (AP) -- Talks planned this weekend between U.S. and Chinese officials in Switzerland are a culmination of more than three months of dizzying rounds of retaliatory tariffs between the two countries that have crippled each other's exporters and dragged on their economies.
Washington and Beijing are entering talks with tariffs on each other's goods at an all-time high. U.S. duties on Chinese imports stand at 145%, while China's retaliatory tariffs on U.S. goods have reached 125%.
U.S. President Donald Trump said he believed the talks could bring tangible progress, and that he was open to lowering the tariffs substantially if Beijing made concessions. China, however, has reiterated calls for Washington to cancel the tariffs ahead of the talks.
Here is a play-by-play of how U.S. and Chinese tariffs have reached such sky-high levels since the beginning of Trump's second term in office:
Trump signs an executive order imposing 10% tariffs on China, as well as 25% duties on Mexico and Canada. He later announces a 30-day reprieve on the Mexican and Canadian tariffs.
The 10% tariffs on all Chinese imports to the U.S. come into effect. China retaliates the same day by announcing a flurry of countermeasures, including duties on American coal, liquefied natural gas and agricultural machinery.
Trump imposes additional 10% tariffs on all Chinese goods, bringing the total level of duties to 20%. China responds with tariffs of up to 15% on imports of key U.S. farm products including chicken, pork, soy and beef, and expanded controls on doing business with key U.S. companies.
Chinese tariffs and measures announced on March 4 go into effect.
On Trump's so-called tariff "Liberation Day," he announces additional 34% duties on all Chinese imports, alongside tariffs on goods from countries around the world. The sweeping tariffs are to come into effect April 9.
China fights back by imposing 34% tariffs on all U.S. goods, effective April 10, as well as other retaliatory measures including more export controls on rare earth minerals.
China also suspends imports of sorghum, poultry and bonemeal from several U.S. companies, adds 27 firms to lists of companies facing trade restrictions, and starts an anti-monopoly probe into DuPont China Group, a subsidiary of the U.S. company DuPont.
Trump threatens China with additional 50% tariffs if it doesn't roll back its 34% reciprocal tariffs.
Trump's "Liberation Day" tariffs come into effect. The U.S. raises tariffs on China even higher than previously announced, to 104%.
Beijing retaliates with duties of 84% on U.S. goods, effective April 10.
Trump further raises tariffs on all Chinese goods to 145%, effective immediately.
China raises its tariffs on all U.S. goods to 125%, effective April 12. Beijing says it would not raise the duties any further.
The Trump administration announces that Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with their Chinese counterparts in Geneva. China will be represented at the talks by Vice Premier He Lifeng.
