Overview of U.S. President Donald Trump’s Tariff Decisions
Since taking office on January 20, U.S. President Donald Trump has made several tariff moves that stunned financial markets and stirred uncertainty across the global economy. His tariff decisions have ranged from imposing sweeping duties to halting some abruptly, affecting trade relations worldwide.
Timeline of Major Tariff Developments
Early February Actions
On February 1, the president imposed a 25% tariff on imports from Mexico and most Canadian goods, alongside a 10% tariff on Chinese imports. This move aimed to pressure these countries to reduce the flow of fentanyl and illegal immigrants into the U.S.
Just two days later, he paused the threat of tariffs on Mexico and Canada for 30 days, securing their cooperation on border and crime enforcement. However, no such agreement was reached with China.
By February 7, tariffs on low-cost packages from China were delayed, pending confirmation that proper systems were in place to process and collect these duties.
Then, on February 10, tariffs on steel and aluminum imports were raised to a flat 25%, applied universally without exceptions.
March Adjustments and Delays
Come March 3, the president set a March 4 start date for 25% tariffs on Mexico and Canada goods and doubled fentanyl-related tariffs on all Chinese imports to 20%.
After consulting with major automotive executives, he delayed tariffs on certain vehicles made in Canada and Mexico for a month starting March 5. The following day, goods covered by a North American trade pact were exempted from these tariffs for a month.
Later in the month, on March 26, a 25% tariff was announced on imported cars and light trucks.
April’s Sweeping Tariff Moves and Market Reactions
On April 2, the president announced a global tariff baseline of 10% on all imports, while imposing significantly higher duties on some of the U.S.’ largest trading partners. However, less than 24 hours later, he paused most country-specific tariffs for 90 days after financial markets tumbled, wiping out trillions worldwide.
The 10% general import duty, though, remained in effect. Meanwhile, the tariff on Chinese imports was set to increase to 125%, combining with earlier fentanyl-related tariffs for an effective 145% duty.
By April 13, exclusions from steep tariffs were granted on certain electronics like smartphones and computers, mainly imported from China.
Expanding Tariff Probes and Policy Shifts in May
April 22 saw the launch of national security investigations into pharmaceutical and semiconductor imports, signaling potential new tariffs on these sectors.
On May 4, a 100% tariff was imposed on all movies produced outside the U.S.
Then, on May 9, a limited bilateral trade agreement with the United Kingdom was announced. This agreement kept 10% tariffs on British exports but modestly expanded agricultural trade and reduced prohibitive U.S. duties on British car exports.
Temporary Truce with China
On May 12, the U.S. and China agreed to a 90-day truce to temporarily reduce reciprocal tariffs. The U.S. lowered tariffs on Chinese imports from 145% to 30%, while China cut its duties on U.S. goods from 125% to 10%.
The next day, the U.S. reduced tariffs on low-value Chinese shipments — those valued at up to $800 — from 120% to 54%.
These tariff moves by U.S. President Donald Trump highlight a complex and evolving trade strategy with significant global economic implications. For further updates, visit Filipinokami.com.