Chinese President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017.
Fred Dufour | AFP | Getty Images
The phase one trade deal between the U.S. and China announced Friday follows nearly two years of tariffs, tough talk and false starts.
Washington and Beijing struck a partial agreement, which involves relief of some U.S. tariffs on Chinese goods and more Chinese purchases of American agricultural products. The Trump administration also said it includes enforceable changes related to intellectual property and technology transfers — two priorities for the White House.
The world's two largest economies still need to sign the accord. U.S. Trade Representative Robert Lighthizer said he hoped the sides could ink it in January.
The phase one deal eases tensions, for now, in a trade war that has led to fears about a slowing global economy. The timeline below details the tariff shots Washington and Beijing have taken at each other during the conflict, which has gone on for most of the Trump's first term so far.