February 1
Donald Trump announces 25 per cent tariffs on imports from Canada and Mexico — except Canadian energy, to be tariffed at 10 per cent.
US hits China with 10 per cent tariffs.
In response, Canada puts 25 per cent tariffs on C$30bn (US$20bn) of US imports, rising to C$155bn after 21 days.
Mexico promises tariffs and other retaliatory measures. China promises “necessary countermeasures”.
Trump does not put tariffs on EU goods, which he had threatened to do.
February 3
Hours before they are to come into force, Trump delays tariffs on Canada and Mexico by a month.
European leaders vow to hit back if Trump attacks with tariffs.
February 4
Trump’s 10 per cent additional tariffs on China take effect.
China announces tariffs on US goods worth about $14bn and revives antitrust investigations into Google and Nvidia.
February 10
Trump announces 25 per cent tariffs on steel and aluminium imports with effect from March 12.
February 14
Trump reveals plan to impose “reciprocal” tariffs on US trading partners, whether allies or adversaries.
February 26
Trump threatens the EU with 25 per cent tariffs, saying the bloc was “formed to screw the United States”.
March 4
Trump’s tariffs against Canada, Mexico and China announced on February 1 come into effect.
Trump doubles his tariffs on Chinese imports to 20 per cent, from the (additional) 10 per cent announced on February 1.
In response, Beijing promises 10-15 per cent tariffs on US agricultural goods from March 10.
Canada’s countermeasures come into effect.
March 5
Trump backtracks, saying carmakers compliant with 2020’s trade deal between the US, Canada and Mexico (USMCA) will get a month-long carve-out from his 25 per cent tariffs.
march 6
Trump backtracks further, granting a one-month carve-out to all goods from Mexico and Canada that are compliant with USMCA. The carve-out extends to April 2 — dubbed by Trump as “liberation day”.
march 10
Canada’s province of Ontario puts 25 per cent tariffs on electricity exports to three US states and threatens to cut off power if Trump retaliates. Trump retaliates by doubling tariffs on Canadian steel and metals to 50 per cent. Ontario backs down the next day, as does Trump.
march 12
The EU and Canada retaliate against Trump’s tariffs on steel and aluminium.
march 24
Trump announces additional 25 per cent tariffs on all imports from countries that buy Venezuelan oil — with effect from April 2.
march 26
Trump announces 25 per cent tariffs on imports of foreign-made cars and car parts, in addition to other applicable tariffs, with effect from April 2.
The US’s biggest trading partners threaten to retaliate.
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