US President Donald Trump's aggressive trade policies since returning to office in January 2025, including levying of sweeping tariffs and then abruptly pausing them, have created market volatility and economic uncertainty across the world. The hasty implementation and hastier reversal of tariffs has left US' trading partners scurrying to respond and financial markets reeling.
Here is a timeline of major tariff developments —
February 1 - In one of his first major economic moves after inauguration, Trump imposed 25 percent tariffs on Mexican and Canadian imports while imposing 10 percent duties on Chinese goods. Trump administration clamped down to address border security and fentanyl trafficking concerns.
February 3 - Just 48 hours later, Trump backtracked on the Mexico and Canada tariffs, agreeing to a 30-day pause after securing commitments on crime and border enforcement. No similar arrangement was reached with China.
February 7 - Trump delayed tariffs on low-cost packages from China until procedures and systems were in place to process them and collect tariff revenue.
February 10 - Trump raised tariffs on steel and aluminium to a flat 25 percent "without exceptions or exemptions".
March 3 - Trump said imposition of 25 percent tariffs on goods from Mexico and Canada would take effect from March 4 and doubled fentanyl-related tariffs on all Chinese imports to 20 percent.
March 5 - The US president agreed to delay tariffs for a month on some vehicles built in Canada and Mexico after a call with the CEOs of General Motors and Ford and the chair of Stellantis.
March 6 - Trump exempted goods from Canada and Mexico under a North American trade pact for a month from the 25 percent tariffs.
March 26 - Trump unveiled a 25 percent tariff on imported cars and light trucks.
April 2 - Trump announced global tariffs with a baseline of 10 percent across all imports and significantly higher duties on some of the U.S.' biggest trading partners.
April 9 - Trump paused for 90 days most of his country-specific tariffs that kicked in less than 24 hours earlier as financial markets collapsed erasing trillions of dollars from stock exchanges around the world. The 10 percent blanket duty on almost all U.S. imports stayed in place. Trump said he would raise the tariff on Chinese imports to 125 percent from the 104 percent level that took effect a day earlier — a rise of 21 percent. This pushed the extra duties on Chinese goods to 145 percent, including the fentanyl-related tariffs imposed he had imposed earlier.
April 13 - The US administration granted exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China into the United States.
April 22 - Trump administration launched national security probes under Section 232 of the Trade Act of 1962 into imports of both pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors.
May 4 - Trump announced 100 percent tariff on all movies produced outside the U.S.
May 9 - A limited trade agreement with British Prime Minister Keir Starmer maintained 10 percent duties on most British exports while slightly expanding agricultural market access and reducing previous tariffs on British automobiles.
May 12 - The US and China announced a temporary truce, reducing reciprocal tariffs for 90 days. American duties on Chinese goods were brought down from 145 percent to 30 percent, while China lowered its tariffs on U.S. imports from 125 percent to 10 percent.
Experts have warned that while temporary pauses and reductions provide momentary relief, the unpredictable nature of Trump's trade actions have hampered long-term business planning and international relations.
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