US President Donald Trump.
Credit: Reuters
US President Donald Trump's tariff decisions since he took office in January 2025 have shocked financial markets and sent a wave of uncertainty through the global economy.
Here is a timeline of the major developments -
February 1, 2025 - Trump orders 25% tariffs on imports from Mexico and Canada and 10% on goods from China, demanding the three countries curb the flow of fentanyl and illegal immigrants into the U.S.
February 10, 2025 - Trump raises tariffs on steel and aluminium imports to a flat 25%.
March 3, 2025 - Trump says 25% tariffs on goods from Mexico and Canada will take effect from March 4 and doubles tariffs on all Chinese imports to 20%.
March 26, 2025 - Trump unveils a 25% tariff on imported cars and light trucks.
April 2, 2025 - Trump announces global tariffs with a baseline of 10% across all imports and significantly higher duties on imports from some countries.
April 9, 2025 - Trump pauses most country-specific tariffs that kicked in less than 24 hours earlier. The 10% blanket duty on almost all U.S. imports stays in place. Trump says he will raise tariffs on Chinese imports to 125% from the 104% level that took effect a day earlier, pushing the extra duties on Chinese goods to 145%.
May 9, 2025 - Trump and British Prime Minister Keir Starmer announce a limited bilateral trade agreement that leaves in place 10% tariffs on British imports to the United States.
May 12, 2025 - The U.S. and China agree to slash tariffs for 90 days. The U.S. cuts the extra tariffs imposed on Chinese imports to 30%, while China reduces duties on U.S. imports to 10% from 125%.
May 29, 2025 - A federal appeals court temporarily reinstates the most sweeping of Trump's tariffs, pausing an earlier lower court's ruling to consider the government's appeal.
June 3, 2025 - Trump signs an executive proclamation hiking tariffs on steel and aluminium imports to 50%.
July 3, 2025 - Trump says the U.S. will place a 20% tariff on many imports from Vietnam, with trans-shipments from third countries through Vietnam facing a 40% levy.
July 7, 2025 - Trump says additional higher duties announced previously will kick in on August 1. In letters sent to 14 countries, he says that will include tariffs between 25% and 40%.
July 15, 2025 - Trump says the U.S. and Indonesia made a new framework agreement under which the U.S. will reduce threatened tariffs on Indonesian goods to 19% from 32%.
July 22, 2025 - Trump strikes a trade deal with Japan that includes lowering tariffs on auto imports to 15%.
July 30, 2025 - The U.S. reaches a deal with South Korea reducing the planned levies on imports to 15%.
July 31, 2025 - Trump signs an executive order imposing import tariffs ranging from 10% to 41% on 69 trading partners ahead of the trade deal deadline. He issues an order increasing the tariff rate on Canadian goods.
August 6, 2025 - Trump imposes an additional 25% tariff on goods from India, saying the country directly or indirectly imported Russian oil.
August 7, 2025 - Trump's higher tariffs on imports from dozens of countries kick in, leaving major trade partners like Switzerland, Brazil and India scrambling for a better deal.
August 11, 2025 - Trump extends tariff truce with China for another 90 days, withholding imposition of three-digit duties until November 10.
August 21, 2025 - The U.S. and EU lock in a framework trade deal that sets duties at 15% on most imports.
September 30, 2025 - Trump slaps duties of 10% on imported timber and lumber and 25% on kitchen cabinets, bathroom vanities and upholstered furniture.
January 14, 2026 - Trump imposes a 25% tariff on certain AI chips, such as the Nvidia H200 AI processor and a similar semiconductor from AMD.
January 17, 2026 - Trump vows to implement a wave of tariffs on eight European allies until the U.S. is allowed to buy Greenland, saying additional 10% tariffs would take effect on February 1 and increase to 25% on June 1.