(Reuters) -U.S. President Donald Trump’s tariff decisions since he took office on January 20, from imposing sweeping duties to abruptly pausing some of them, 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% tariffs on Mexican and most Canadian imports and 10% on goods from China, demanding they curb the flow of fentanyl and illegal immigrants into the United States.
February 3 – Trump suspends his threat of tariffs on Mexico and Canada, agreeing to a 30-day pause in return for concessions on border and crime enforcement. The U.S. does not reach such a deal with China.
February 7 – Trump delays tariffs on de minimis, or low-cost, packages from China until the Commerce Department can confirm that procedures and systems are in place to process them and collect tariff revenue.
February 10 – Trump raises tariffs on steel and aluminium to a flat 25% “without exceptions or exemptions”.
March 3 – Trump says 25% tariffs on goods from Mexico and Canada will take effect from March 4 and doubles fentanyl-related tariffs on all Chinese imports to 20%.
March 5 – The president agrees to delay tariffs for one month on some vehicles built in Canada and Mexico after a call with the CEOs of General Motors and Ford and the chair of Stellantis.
March 6 – Trump exempts goods from Canada and Mexico under a North American trade pact for a month from the 25% tariffs.
March 26 – Trump unveils a 25% tariff on imported cars and light trucks.
April 2 – Trump announces global tariffs with a baseline of 10% across all imports and significantly higher duties on some of the U.S.’ biggest trading partners.
April 9 – Trump pauses for 90 days most of his country-specific tariffs that kicked in less than 24 hours earlier following an upheaval in financial markets that erased trillions of dollars from bourses around the world.
The 10% blanket duty on almost all U.S. imports stays in place.
Trump says he will raise the tariff on Chinese imports to 125% from the 104% level that took effect a day earlier. This pushes the extra duties on Chinese goods to 145%, including the fentanyl-related tariffs imposed earlier.
April 13 – The U.S. administration grants exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China.
April 22 – The Trump administration launches national security probes under Section 232 of the Trade Act of 1962 into imports of both pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors.
May 4 – Trump imposes a 100% tariff on all movies produced outside the U.S.
May 9 – Trump and British Prime Minister Keir Starmer announce a limited bilateral trade agreement that leaves in place 10% tariffs on British exports, modestly expands agricultural access for both countries and lowers prohibitive U.S. duties on British car exports.
May 12 – The U.S. and China agree to temporarily slash reciprocal tariffs. Under the 90-day truce, the U.S. will cut the extra tariffs it imposed on Chinese imports to 30% from 145%, while China’s duties on U.S. imports will be slashed to 10% from 125%.
(Compiled by Paolo Laudani and Mateusz Rabiega in Gdansk, editing by Milla Nissi-Prussak and Jan Harvey)
Comments