Major developments in Trump's trade war

US President Donald Trump's tariff decisions since he took office in January have shocked financial markets and sent a wave of uncertainty through the global economy.

Here is a timeline of the major developments:

February 1 - Trump imposes 25 per cent tariffs on Mexican and most Canadian imports and 10 per cent on goods from China, demanding they curb the flow of fentanyl and illegal immigrants into the US.

February 3 - Trump agrees to a 30-day pause in his tariff threat on Mexico and Canada in return for concessions on border and crime enforcement. The US does not reach such a deal with China.

February 10 - Trump raises tariffs on steel and aluminium to a flat 25 per cent.

March 3 - Trump says 25 per cent tariffs on goods from Mexico and Canada will take effect from March 4 and doubles fentanyl-related tariffs on all Chinese imports to 20 per cent.

March 6 - Trump exempts goods from Canada and Mexico under a North American trade pact for a month.

March 26 - Trump unveils a 25 per cent tariff on imported cars and light trucks.

April 2 - Trump announces global tariffs with a baseline of 10 per cent across all imports and significantly higher duties on some countries.

April 9 - Trump pauses most of his country-specific tariffs that kicked in less than 24 hours earlier. The 10 per cent blanket duty on almost all US imports stays in place. Trump says he will raise the tariff on Chinese imports to 125 per cent from the 104 per cent level that took effect a day earlier, pushing the extra duties on Chinese goods to 145 per cent.

May 9 - Trump and British Prime Minister Keir Starmer announce a limited bilateral trade agreement that leaves in place 10 per cent tariffs on British exports and lowers duties on British car exports.

May 12 - The U.S. and China agree to temporarily slash tariffs. Under the 90-day truce, the U.S. will cut the extra tariffs it imposed on Chinese imports to 30 per cent, while China's duties on US imports will be slashed to 10 per cent from 125 per cent.

May 23 - Trump warns Apple it would face a 25 per cent tariff if phones it sold in the US were manufactured outside of the country.

May 29 - 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 - Trump signs an executive proclamation activating a hike in the steel and aluminium tariffs to 50 per cent.

July 3 - Trump says the US will place a 20 per cent tariff on many Vietnamese exports, with trans-shipments from third countries through Vietnam facing a 40 per cent levy.

July 7 - Trump says on Truth Social the 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 per cent and 40 per cent.

July 10 - Trump says the US will impose a 35 per cent tariff on imports from Canada in August and plans to impose blanket tariffs of 15 per cent or 20 per cent on most other trading partners.

July 15 - Trump says the US will impose a 19 per cent tariff on goods from Indonesia under a new agreement.

July 22 - Trump strikes a trade deal with Japan that includes lowering tariffs on auto imports to 15 per cent.

July 27 - The US reaches a trade agreement with the European Union, imposing a 15 per cent import tariff on most EU goods.

July 30 - Trump says the US will impose a 25 per cent tariff on goods imported from India, and places a 50 per cent tariff on most Brazilian goods, with softer quotas for sectors such as aircraft, energy and orange juice.

The US reaches a deal with South Korea, reducing the planned levies to 15 per cent.

Trump says a 50 per cent tariff on copper pipes and wiring would also kick in on August 1.

July 31 - Trump signs an executive order imposing import tariffs ranging from 10 per cent to 41 per cent on 69 trading partners ahead of the trade deal deadline.

He issues a separate order raising duties on Canadian goods subject to fentanyl-related tariffs to 35 per cent, from 25 per cent previously.

He grants Mexico a 90-day reprieve from higher tariffs of 30 per cent on many goods to allow time to negotiate a broader trade pact.

August 6 - Trump imposes an additional 25 per cent tariff on goods from India, saying the country directly or indirectly imported Russian oil.

August 7 - Trump's higher tariffs on imports from dozens of countries kick in, leaving major trade partners such as Switzerland, Brazil and India searching for a better deal.

August 11 - Trump extends tariff truce with China for another 90 days, withholding imposition of three-digit duties until November 10. China's Commerce Ministry issues a parallel pause on extra tariffs.

August 21 - The US and EU administrations lock in a framework trade deal that set the duties at 15 per cent on most goods imported from Europe.

Additionally, Washington pledged to reduce the current 27.5 per cent levy on cars and car parts, provided Brussels delivers on tariffs cuts on US goods.