How Trump’s chaotic trade war has evolved
U.S. President Donald Trump —REUTERS
US President Donald Trump’s tariff decisions since he took office on January 20, from imposing sweeping duties to abruptly pausing some of them, have shocked financial markets and sent a wave of uncertainty through the global economy.
- February 1 – Trump imposes 25 percent tariffs on Mexican and most Canadian imports and 10 percent on goods from China.
- February 3 – Trump suspends his threat of tariffs on Mexico and Canada, agreeing to a 30-day pause in return for concessions on border and crime enforcement.
- February 7 – Trump delays tariffs on de minimis, or low-cost, packages from China.
- February 10 – Trump raises tariffs on steel and aluminium to a flat 25 percent “without exceptions or exemptions.”
- March 6 – Trump exempts goods from Canada and Mexico under a North American trade pact for a month from the 25 percent tariffs.
- March 26 – Trump unveils a 25 percent tariff on imported cars and light trucks.
- April 2 – Trump announces global tariffs with a baseline of 10 percent across all imports and significantly higher duties on some of the US’ biggest trading partners.
- April 9 – Trump pauses for 90 days most of his country-specific tariffs that kicked in less than 24 hours earlier. The 10 percent blanket duty on almost all U.S. imports stays in place. Trump says he will raise the tariff on Chinese imports to 125 percent from the 104 percent level that took effect a day earlier. This pushes the extra duties on Chinese goods to 145 percent, including the fentanyl-related tariffs imposed earlier.
- April 13 – The US administration grants exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China.
- May 4 – Trump imposes a 100 percent tariff on all movies produced outside the US.
- May 9 – Trump and British Prime Minister Keir Starmer announce a limited bilateral trade agreement that leaves in place 10 percent tariffs on British exports.
- May 12 – The U.S. and China agree to temporarily slash reciprocal tariffs. Under the 90-day truce, the U.S. will cut the extra tariffs it imposed on Chinese imports to 30 percent from 145 percent, while China’s duties on US imports will be slashed to 10 percent from 125 percent.
- May 13 – The US cuts the low value “de minimis” tariff on China shipments, reducing duties for items valued at up to $800 to 54 percent from 120 percent.
