This timeline shows how the US-China trade war led to the latest deal with Beijing

Key Points
  • The U.S. and China reach a phase one trade agreement following nearly two years of tariffs and false starts.
  • The timeline shows how the Trump administration and Beijing got to the latest deal amid a trade war that has taken up most of President Donald Trump's term.
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 sign 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 Trump's term.