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Tariffs

Tariffs

How did we end up here?

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MacroXX
Apr 01, 2025
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On his first day in office, President Trump announced plans to impose 25% tariffs on imports from Canada and Mexico starting February 1. However, he refrained from providing detailed information about his strategy for taxing Chinese imports.

January 26

Trump has threatened to impose a 25% tariff on all Colombian imports and take additional retaliatory measures after Colombian President Gustavo Petro rejected two U.S. military aircraft carrying deported migrants.

February 1

President Trump signed an executive order imposing tariffs on imports from Mexico, Canada, and China. The order includes a 25% tariff on imports from Mexico and Canada, with Canadian energy products subject to a reduced 10% tariff, and a 10% tariff on all imports from China starting February 4.

February 3

President Trump agreed to a 30-day suspension of his tariff threats against Mexico and Canada after both nations committed to addressing his concerns regarding border security and drug trafficking.

February 4

President Trump’s new 10% tariffs on all Chinese imports to the U.S. have officially taken effect. In response, China announced a series of countermeasures, including new tariffs and an antitrust investigation into Google. Starting February 10, China imposed 15% tariffs on U.S. coal and liquefied natural gas, along with a 10% tariff on crude oil, agricultural machinery, and large-engine cars imported from the U.S.

February 10

President Trump has announced plans to increase tariffs on steel and aluminum imports.

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February 13

President Trump has announced a plan for "reciprocal" tariffs, aiming to raise U.S. tariffs to match the rates imposed by other countries on American imports in an effort to promote fairness in trade practices.

February 25

President Trump signed an executive order directing the Commerce Department to evaluate whether imposing tariffs on imported copper is necessary to safeguard national security.

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