US President Donald Trump’s tariffs are expected to ignite a global trade war on business partners, especially focused on China, Canada and Mexico. The latest list includes 25 % of cars imported to the USA.
However, the selection of tariffs is not under the administration of Donald Trump’s new development. During its first term of office, the US participated in the trade war with China. In his second term Donald Trump accepts a similar strategy.
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Let’s take a look at what has happened so far:
20 January
Soon after he officially entered the oval office, Donald Trump promised to charge “tariffs and taxation of foreign countries to enrich our citizens”.
On the first day in Trump, he also said that he expected to save 25 % of tariffs on Canada and Mexico from February 1, while refusing to immediately elaborate plans to tax Chinese import.
January 26
Colombian President Gustavo Petro rejected two US military aircraft over poor immigrants. In response, Trump threatened 25 % of tariffs on Colombian imports. Petro announced a 25 % increase in tariffs to American products as retaliation. However, this decision was later reversed.
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February 1
The US President signed an executive order depositing tariffs on goods from Mexico, Canada and China. 10 % of the tariff was selected for imports from China and 25 % for goods from Mexico and Canada. All three countries have announced retaliatory measures against a executive order.
3rd February
Trump stopped his decision on tariffs against Mexico and Canada for 30 days, because both countries have made sure they are concerned with concerns about drug trafficking and border security.
4th February
10 % of the Chinese goods imported to the US came into force. As a retaliation of China, it has imposed a new set of obligations for US goods and launched Google’s antitrust investigation.
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10th February
Trump announced an increase in tariffs to steel and aluminum and removed exceptions introduced in 2018 from 12 March. Imports on steel would therefore be charged at least 25 percent. Aluminum tariffs also increased to 25 % of 10 % in 2018.
February 13
Donald Trump announced plans for mutual tariffs to increase American tariffs to correspond to the tax rates imposed by his business partners “for justice”.
He said that in addition to China, Canada and Mexico, other countries, such as India, can face higher tariffs. Trump also mentioned plans to store 25 % of the tariff on European nations.
February 25
Trump ordered the Ministry of Commerce to consider whether the tariff for imported copper to protect national security, with reference to its use in defense, infrastructure and new technologies.
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March 1
Trump asked the Ministry of Commerce to assess whether tariffs and wood, citing the construction industry and the army depend on the supply of wooden products to protect national security.
March 4
They come into force for imports from Canada and Mexico, with charges for Chinese goods doubled to 20 percent.
The then Canadian Prime Minister Justin Trudeau announced tariffs to more than $ 100 billion for US goods in 21 days. Mexican President Claudia Sheinbaum also stated that her country would respond with retaliation for American goods. Meanwhile, China went to the farm exports.
March 5
The US President granted a monthly exemption from tariffs to goods imported from Mexico and Canada, which benefited American car manufacturers.
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March 10
In response to 20 % of Donald Trump’s tariffs, China deposited another 15 % tariff on American products, including chicken, pork, soybeans and beef. However, the Chinese Ministry of Trade stated that the goods will already be exempt from retaliation tariffs to 12 April.
March 12
Donald Trump raised tariffs to all steel and aluminum imports to 25 %. In response to this, the European Union announced retaliatory obligations for American products, including steel, aluminum goods, textiles, household appliances, motorcycles, bourbon, peanut butter and jeans.
March 13
Trump threatened to save 200% tariff on European wine, champagne and spirits if the European Union has selected a 50% tariff on American whiskey.
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March 24
Trump announced the storage of a 25 % tariff on countries buying oil or gas from Venezuela, effective from April 2. This step is expected to have an impact on China, which in 2023 imported 68 % of oil from Venezuela to the US Energy Administration.
March 26
Donald Trump announced a 25 % tariff on car imports to strengthen domestic production. However, this step has taken concern between car manufacturers who depend on global supply chains for production.
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