The U.S. and China have had a complicated trade relationship for the last half century. WSJ’s William Mauldin looks at the key moments that landed the two countries on the doorstep of a possible trade deal. Photo Illustration: Heather SeidelBEIJING—A U.S. move to increase tariffs has China dusting off its options for retaliation, which include a reciprocal increase, piling on new tariffs and punishing individual American companies. China’s Commerce Ministry threatened “necessary countermeasures” in response to the U.S. filing paperwork to raise tariffs to 25% from 10% on $200 billion of Chinese goods. Washington’s increase takes effect at 12:01 a.m. Friday—just after noon in Beijing.

Source: Wall Street Journal May 09, 2019 14:00 UTC