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Long-term tariffs from U.S. President Donald Trump have plunged the country into a foreign trade war – while the ever-integrated new taxes continue to escalate uncertainty.
Trump is no stranger to tariffs. He launched a trade war during his first term, targeting China in particular by imposing taxes on most goods. Beijing’s retaliatory collection of U.S. products from fruit to automobile imports. At the same time, Trump has used more threats of tariffs to force Canada and Mexico to renegotiate the North American trade agreement in 2020, known as the “US-Mexico-Canada Agreement.”
When President Joe Biden took office, he retained most of Trump’s previous tariffs on China, in addition to imposing some new restrictions, but his administration claimed to have taken a more targeted approach.
Fast forward to today, economists stress that under Trump’s wider tariffs, businesses and economies around the world may have greater consequences, and higher prices may allow consumers to fund the bill. Trump’s back and forth tariff threats and retaliation have also caused people to hold back over the past few months.
Here is the schedule of how we got here:
January 20
Trump was sworn in. In his inaugural speech, he once again promised to “tax and taxation abroad to enrich our citizens.” He reiterated the plan to create an external tax service agency, which has not been established yet.
On his first day of office, Trump also said he expected to impose a 25% tariff on Canada and Mexico starting February 1, while refusing to immediately enrich plans to impose taxes on Chinese imports.
January 26
Trump threatened 25% tariffs on all Colombian import measures and other retaliation measures after President Gustavo Petro refused to bring immigrants to the country, accusing Trump of treating immigrants without dignity during his deportation.
In response, PETRO also announced that Colombia’s tariffs on U.S. goods rose by 25%. But Colombia later reversed its decision and accepted flights carrying immigrants. The two countries quickly stated that the trade dispute had ceased.
February 1
Trump signed an executive order to impose tariffs on imports from Mexico, Canada and China, starting on February 4, with all imports from China reaching 10% and 25% of imports from Mexico and Canada. Trump invoked such power by declaring a national emergency, which demonstrated undocumented immigration and drug trafficking.
The action prompted rapid anger in all three countries and promised retaliation measures.
February 3
Trump agreed to a 30-day pause on his tariff threat to Mexico and Canada as both trading partners took steps to appease Trump’s concerns about border security and drug trafficking.
February 4
Trump’s new 10% tariff on all Chinese imports is still in effect. On the same day, China announced a series of countermeasures, including new responsibilities for various American products and an antitrust investigation into Google.
On February 10, China’s tariffs on coal and liquefied natural gas products were 15%, and on crude oil, agricultural machinery and large vehicles, a 10% levy, and will take effect on February 10.
February 10
Trump announced plans to raise tariffs on steel and aluminum starting from March 12. He removed the exemption from steel tariffs in 2018, meaning that all steel imports will be taxed at a rate of at least 25%, and also raised its 2018 aluminum price from 10% to 25%.
February 13
Trump announces a “reciprocal” tariff plan – pledging to increase U.S. tariffs to meet other countries’ rates on imports “for fair purposes.” Economists warn that reciprocity tariffs will overturn decades of trade policies that could cause chaos for global businesses.
Besides China, Canada and Mexico, he later said other countries, such as India and Europe, would not survive higher tariffs.
February 25
Trump signed an executive order directing the Commerce Department to consider whether tariffs on imported copper are needed to protect national security. He cites the use of the material in U.S. defense, infrastructure and emerging technologies.
March 1
Trump signs an additional executive order directing the Commerce Department to consider whether tariffs on timber and timber are also needed to protect national security
March 4
Trump’s 25% tariff on Canadian and Mexico imports has taken effect, although he limits the tax to 10% of Canadian energy. He also doubled the tariffs on all Chinese imports to 20%.
All three countries have committed to retaliation. Canadian Prime Minister Justin Trudeau announced tariffs on more than $100 billion in U.S. goods within 21 days. Mexican President Claudia Sheinbaum said her country would respond with its retaliatory tariffs on U.S. goods without immediately specifying target products, indicating hope for a downgrade.
Meanwhile, China’s export approval to various major U.S. farms will take effect on March 10. It also expands the number of U.S. companies that are subject to export controls and other restrictions.
March 5
Trump granted a one-month exemption to his new tariffs, which affected U.S. automakers in Mexico and Canada. The president paused after talking to leaders of the “Big 3” automakers Ford, General Motors and Stellantis.
March 6
During the broader extension, Trump delayed many imports from Mexico, some from Canada for a month. But he still plans to impose “reciprocity” tariffs starting from April 2.
Trump attributed Sheinbaum to advances in border security and drug smuggling, which is why tariffs were stopped again. Despite the still rage and uncertainty, his actions were somewhat thawed. Nevertheless, after its initial retaliatory tariffs on Canadian CAD 30 billion (CAD 21 billion) for U.S. goods, the government said it had suspended its second wave of retaliatory tariffs worth 125 billion CAD (CAD 87 billion).
March 10
China’s retaliation against major U.S. agricultural products, 15% tariffs (including chicken, pork, soy and beef) have come into effect. According to a previous announcement from China’s Ministry of Commerce, the exemption has been made on April 12 during transportation.
March 12
Trump’s new tariffs on all steel and aluminum imports have come into effect. Now, two metals are fully taxed 25% – Trump ordered the removal of steel exemption and taxation on aluminum from his previously imposed 2018 import tax.
The EU has taken retaliatory trade actions, which are expected to assume new responsibilities in U.S. industry and agricultural products. These measures will cover US goods worth about 26 billion euros ($28 billion) instead of just steel and aluminum products, but also textiles, household appliances and agricultural supplies. Motorcycles, bourbons, peanut butter and jeans will be hit, just like Trump’s first semester. The 27-member group later said it would postpone the retaliatory action until mid-April.
At the same time, Canada announced plans to impose retaliatory tariffs worth 29.8 billion Canadian dollars (20.7 billion Canadian dollars) on U.S. imported goods, which will take effect on March 13.
March 13
Trump threatens 200% tariffs on European wines, champagne and spirits if the EU previously announced plans to tariffs on U.S. whiskey hit 50% plans.
March 24
Trump said he would impose a 25% tariff on all imports from any country that buys oil or gas from Venezuela, in addition to starting April 2.
According to the U.S. Energy Information Administration, tariffs are likely to increase the taxes China faced, which acquired China in 2023 at a price of 68% of Venezuela’s exports. However, many countries also receive oil from Venezuela, including the United States itself.
March 26
Trump said he imposed a 25% tariff on automatic imports, which the White House claims will promote domestic manufacturing. But this could also put financial pressure on automakers that rely on global supply chains.
These automatic imports will begin collecting on April 3 – starting with a comprehensive auto tax. The tariffs will be set to expand to applicable auto parts in the next few weeks to May 3.
April 2
Trump announced his long-publicized “reciprocity” tariffs – announcing a benchmark tax of 10% on full imports starting April 5, and a higher interest rate for dozens of countries pursuing over-trade with the United States, effective April 9.
Trump said that among those steeper taxes, the U.S. will now have 34% import taxes on China, 20% import taxes on EU, 25% in South Korea, 24% in Japan, and 32% in Taiwan. The new tariffs are raised by previously imposed taxes, including a 20% tax on all Chinese import taxes announced earlier this year.
Meanwhile, for goods from Canada and Mexico, the White House said that USMCA-compliant imports can continue to enter the United States. The White House added that tariffs on the remaining imports could drop from 25% to 12% once both countries meet Trump’s requirements for immigration and drug trafficking.
April 3
The automatic tariffs previously announced by Trump have begun. Prime Minister Mark Carney said Canada will match tariffs on vehicles imported from the U.S. at 25%
April 4
China announced plans to impose a 34% tariff on imports of all U.S. products starting April 10, matching Trump’s new “reciprocal” tariffs on Chinese goods, part of a series of retaliatory measures.
Beijing’s commerce ministry said it will also impose more export controls on rare earths, materials used in high-tech products such as computer chips and electric vehicle batteries. The government added 27 companies to the list of companies subject to trade sanctions or export controls.
April 5
Trump’s minimum tariffs are valid in almost all countries and territories.
April 9
Trump’s higher “countdown” rate came into effect, and after midnight, taxes were imposed on imports in dozens of countries. But a few hours later, his administration said it would suspend most of the higher interest rates within 90 days, while almost levying the recently imposed 10% tax on all global imports.
China is the exception. After a close follower, Trump said he would raise these import taxes to 125% “immediately effective” after he proposed a levied on China, adding to the stacked tit taxes between the two countries.
China retaliated against it before it announced, and began taxing U.S. goods at 84% starting on April 10.
Canada’s automatic import counters will also take effect. The country imposes a 25% tax on automatic imports from the United States and does not comply with the 2020 USMCA PACT.
Meanwhile, EU member states voted in favor of approving their retaliatory taxes to 20.9 billion euros ($23 billion) of U.S. goods in response to Trump’s previous imposition of steel and aluminum tariffs. The EU’s executive committee did not immediately specify the imports it would tax, but pointed out that its counting tariffs would appear in phases – some are scheduled to arrive on April 15, while others will arrive on May 15 and December 1.
April 10
The White House clarified that once his previous 20% fentanyl tariffs, Trump’s previous 125% figure on China was actually 145%.
Additionally, the EU has put its steel and aluminum tariff retaliation on 90 days to match Trump’s pause on the steeper “countdown” collection. European Commission President Ursula von der Leyen said the commission hopes to negotiate with the United States, but will issue countermeasures if the negotiations are “unsatisfied”.
April 11
China said it would intensify its imposition of Trump, raising tariffs on U.S. goods from 84% to 125%. The new rate is scheduled to begin on April 12.
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