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Home»Economic News»US escalates global trade war with sweeping new tariffs
Economic News

US escalates global trade war with sweeping new tariffs

April 2, 2025No Comments2 Mins Read
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February 1

President Trump announces new tariffs on imports from Canada and Mexico, with exceptions for Canadian energy at a lower rate.

The US also imposes tariffs on China, sparking a series of retaliatory measures from Canada, Mexico, and China.

Surprisingly, Trump decides not to impose tariffs on goods from the EU.

February 3

Trump delays the implementation of tariffs on Canada and Mexico, while European leaders warn of retaliatory measures if the US imposes tariffs on them.

February 4

New tariffs on Chinese goods go into effect, leading to China imposing tariffs on US products and reopening antitrust investigations.

February 10

Trump announces tariffs on steel and aluminum imports, set to take effect in March.

February 14

Plans for reciprocal tariffs on US trading partners are revealed by Trump.

February 26

Threats of tariffs on the EU are made by Trump, citing unfair trade practices.

March 4

Previous tariffs on Canada, Mexico, and China take effect, with Trump increasing tariffs on Chinese imports.

In response, Beijing announces tariffs on US agricultural goods.

March 5

Trump grants a temporary exemption for carmakers compliant with the USMCA trade deal.

March 6

Further exemptions are granted to goods from Mexico and Canada, extending to April 2.

March 10

Ontario imposes tariffs on electricity exports to the US, leading to retaliatory measures from Trump that are later reversed.

March 12

The EU and Canada respond to Trump’s tariffs on steel and aluminum imports.

March 24

Trump announces additional tariffs on countries buying Venezuelan oil.

March 26

New tariffs on foreign-made cars and car parts are announced by Trump, sparking threats of retaliation from the US’s major trading partners.

escalates global sweeping tariffs trade war
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