Tariff timeline: What is the status of the Trump administration’s tariffs?
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Tariff timeline: What is the status of the Trump administration’s tariffs?
President Donald Trump has repeatedly proposed — and reneged on — plans to impose tariffs on other countries, giving whiplash to both consumers and the stock market.
Tariffs are a tax that U.S. importers pay to the U.S. government. To make up for that tax, these importers either eat the costs or pass them along to you in the form of higher prices.
On the very day he was inaugurated, Trump announced plans to impose 25% tariffs on Mexico and Canada. First, they were postponed for 30 days. Then, they went into effect on March 4, only for Trump to decide a couple of days later to halt tariffs on many imports from Canada and Mexico for one month. He also granted a one-month reprieve to U.S. automakers.
Trump has also threatened tariffs on the European Union, which exports products like pharmaceutical products, automobiles and alcohol to the U.S., and he’s announced plans to impose reciprocal tariffs on other countries in order to match the rates they’ve set.
Currently, the following tariffs from the second Trump administration are in effect: 25% taxes on all steel and aluminum imports and 20% taxes on Chinese imports.
Below is an update timeline of where tariffs stand:
March 12: Trump’s planned steel and aluminum tariffs go into effect. His administration reinstates 25% tariffs on all steel imports and raises tariffs on all aluminum imports to 25%.
In response, the European Union announces that it will impose retaliatory tariffs on $28 billion worth of U.S. goods, including steel, aluminum, textiles, home appliances and agricultural goods.
Canada is also planning to impose tariffs on $21 billion worth of U.S. goods. The United States’ trading partner has already imposed 25% tariffs on $30 billion worth of goods, which includes certain types of meat, wine, orange juice, pajamas and footwear.
March 11: The premier of Ontario, Canada, agrees to halt a 25% surcharge on electricity that the province supplies to Minnesota, New York and Michigan. Trump says he will double tariffs on Canadian steel and aluminum imports to 50%, but rolls back his plan after the premier backs down on plans to impose a surcharge on Canadian electricity.
March 10: In response to Trump’s tariffs, the premier of Ontario, Canada, announces that Ontario will charge 25% more for the electricity it supplies to Minnesota, New York and Michigan.
March 6: Trump postpones 25% tariffs on many products from Canada and Mexico for one month, but Canada is committed to keeping retaliatory tariffs on U.S. imports in place. Canada has a plan to set 25% tariffs on $155 billion worth of imported U.S. goods, and has already imposed tariffs on $30 billion worth of goods.
March 5: The Trump administration announces that U.S. automakers are exempt from tariffs on imports from Canada and Mexico for one month, as long as they follow rules set forth by the U.S.-Mexico-Canada Agreement.
March 4: Planned 25% tariffs on Canada and Mexico go into effect, ending the 30-day pause on these taxes. The Trump administration also slaps an additional 10% tariff on China, meaning Chinese imports now face a tariff of 20%.
China announces it will impose 15% tariffs on U.S. imports, including chicken, pork, soy and beef, that will take effect on March 10. These tariffs are on top of the 10%-15% tariffs China imposed in February.
During a joint address to Congress, Trump also says the U.S. might impose a 25% tariff on copper.
Canada announces it plans to move forward with its plans to set 25% tariffs on $155 billion worth of imported U.S. goods, and has already imposed tariffs on $30 billion worth of goods. That $30 billion worth of goods includes certain types of meat, wine, orange juice, pajamas and footwear.
Feb. 27: The European Union says it will fight Trump’s plan to impose 25% tariffs on EU imports, targeting the U.S. bourbon, jean and motorcycle industries.
Feb. 26: Trump threatens to impose 25% tariffs on imports from the European Union. Trump says the planned 25% tariffs on Canada and Mexico will go into effect on April 2, although a White House official walks back that claim and says they’re still set to go into effect in early March.
Feb. 13: Trump signs a memorandum calling for the development of a reciprocal tariff plan. These reciprocal tariffs would ensure that U.S. tariff rates on other countries match the rates that countries have imposed on U.S. exports.
Feb. 10: China’s retaliatory tariffs on the U.S. go into effect. The country imposes a 15% tariff on coal and liquefied natural gas products, and a 10% tariff on crude oil, agricultural machinery and large-engine cars.
Trump announces plans to reinstate 25% tariffs on steel imports and raise tariffs on aluminum imports to 25% “without exceptions” on March 12.
Feb. 4: Trump’s 10% tariffs on China go into effect. China announces it plans to retaliate against the U.S. by imposing a 15% tariff on coal and liquefied natural gas products, and a 10% tariff on crude oil, agricultural machinery and large-engine cars.
Feb. 3: Trump agrees to a deal with Canada and Mexico, pausing 25% tariffs on both countries for 30 days, but tariffs on China are set to go into effect. Canada agrees to appoint a fentanyl “czar” and create a joint strike force with the U.S. to tackle organized crime, fentanyl and money laundering, according to a tweet from Prime Minister Justin Trudeau. Mexico agrees to reinforce the U.S.-Mexico border with 10,000 troops from its National Guard to curb drug trafficking, especially fentanyl.
Trump hints the European Union could also face tariffs.
Feb. 1: The White House announces that Trump is planning to impose 25% tariffs on Canada and Mexico, and a 10% tariff on China, which are set to take effect on Feb. 4. Energy from Canada, specifically, will face a 10% tariff.
Mexico announces it plans to respond with its own tariffs against the U.S., although it does not specify what those tariffs will look like. Canada says it plans to impose 25% tariffs on $155 billion worth of goods.
Jan. 20: Trump announces that he plans to put 25% tariffs on Canada and Mexico, on Feb. 1. While Trump threatened to place tariffs on China prior to Inauguration Day, he does not mention any concrete plans for China.
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