Trump has begun another commercial war. Here is a timeline of how we get here

Trump has begun another commercial war. Here is a timeline of how we get here

New York – Very threatened duty of the president of the United States Donald Trump They have plunged the country into a commercial war abroad, all while again, the new taxes out again continue to increase uncertainty.

Trump is no stranger to tariffs. He also launched a commercial war during his first term, but now he has more radical plans. Economists stress there Could greater consequences? In companies and economies around the world this time, and that the highest prices will probably go Consumers take into account the invoice.

There has also been a cervical punishment feeling of Trump’s round trip threats and responding to reprisals, including Recently postponed levies For some goods from Canada and Mexico that followed a 30 -day pause for the automotive industry. Uncertainty has shattered financial marketsconsumer’s trust down, and wrapped in many companies with questions that could delay hiring and investment.

Here is a timeline of how we get here:

Triumph launches a commercial war During his first term, taking particular objective to China.

The two countries exchange a Tit levies series per eyeWith Trump putting tariffs on most Chinese and Beijing products responding with their own retaliation tariffs on US products ranging from fruits, soybeans and wine to airplanes, automotive and imports of chemicals.

Separately, Trump slapped tariffs on imported solar panels and washing machines. And in 2018, intensifies tensions with other commercial partners by imposing 25% taxes in imported steel and 10% in aluminum imports. It also uses the threat of more tariffs to force Canada and Mexico to renegotiate a commercial pact of North Americacalled the Us-Mexicocanada Agreement, in 2020.

President Joe Biden largely retains Most Trump tariffs previously promulgated against China, but their administration claims to take a most directed approach.

In October 2022, I broadcast NEW RESTRICTIONS on the sale of semiconductors and joint manufacturing equipment to China. These curbs will be expanded in October 2023 and December 2024 – When China Respond with a prohibition of US exports for various high -tech materials such as Galio and Germanio.

Biden too tariff walks in Chinese electric vehicles, solar cells, steel, aluminum and medical equipment in May 2024. And in July, he, he, he, imposes rates In steel and aluminum sent from Mexico, but it was done elsewhere in an attempt to prevent China from avoiding import taxes.

Triumph Win the US presidential elections. He continues Promise steep tariff walks In the coming weeks and months prior to his first day back in office.

Trump is sworn in. In his Inaugural addressAgain promises “tariffs and tax foreign countries to enrich our citizens.” And reiterates plans to Create an agency called external income servicethat has not yet been established.

On his first day in office, Trump also says that He hopes to put 25% tariffs in Canada and Mexico As of February 1, he refused to develop plans immediately to tax Chinese imports.

Triumph Threatens 25% of tariffs In all imports from Colombia and Other reprisal measures After President Gustavo Petro rejects two US military planes that transport migrants to the country, accusing Trump of not treating immigrants with dignity during deportation.

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In response, Petro also announces a 25% reprisal increase in Colombian tariffs on US assets. But Colombia then reversed its decision and He accepted the flights transporting migrants. The two countries soon stopped in The commercial dispute.

Triumph signs an executive order To impose import tariffs from Mexico, Canada and China: 10% in all imports from China and 25% in imports from Mexico and Canada As of February 4. Triumph He invoked this power declaring a national emergency, apparently finished undocumented immigration and drug trafficking. Taxes on Canada and Mexico threaten to fly the Trump USMCA trade agreement itself, which allowed many products to cross the US -free US edges.

The action causes rapid outrage of the three countries, with promises of retaliation measures.

Triumph Accept a 30 -day pause On their tariff threats against Mexico and Canada, both commercial partners take measures to appease Trump’s concerns about border security and drug trafficking.

The new Trump 10% rates over all Chinese imports to the United States It still enters into force. Porcelain retaliate the same day When announcing a burst of countermeasures, including the sweeping of new tasks in a variety of American goods and a Antimonopoolio Research in Google.

China’s 15% rates on coal and liquefied natural gas products, and a 10% tax on crude oil, agricultural machinery and large motor cars imported from the United States, They enter into force on February 10.

Trump announces plans To walk steel and aluminum rates. Eliminates exemptions from its 2018 tariffs on steel, which means that all steel imports will be taxed at least 25%, And also go up Its 2018 aluminum tariffs 25% of 10% established in force on March 12.

Trump announces a Plan the “reciprocal” rates – Promising to increase US tariffs so that they coincide with the tax rates that other countries charge in imports “for equity purposes”. Economists warn that reciprocal tariffs, expelled to revoke decades of commercial policy, could Create chaos for global businesses.

Beyond China, Canada and Mexico, it indicates that additional countries, Like IndiaIt will not be saved from higher rates. And in the following weeks, Trump suggestions that European countries could face a 25% tax as part of these efforts.

Trump signed an executive order that tells the Commerce Department to consider whether a tariff on imported copper is needed To protect national security. He cites the use of American defense material, infrastructure and emerging technologies.

Trump signs an additional executive order that instructs the Department of Commerce consider Tariffs on wood and wood are also needed to protect national security, arguing that the construction industry and the military depend on a strong supply of wood products in the United States.

Trump’s 25% rates in Canada and Mexico imports come into forcealthough it limits the 10% tax in Canadian energy. It also doubles the rate of all Chinese imports at 20%.

The three countries promise retaliation measures. The Canadian Prime Minister, Justin Trudeau, announces tariffs on more than $ 100 billion of US goods during the 21 days. And Mexican president Claudia Sheinbaum says her country would respond With your own retaliation rates In American products without specifying specific products immediately, signaling expects to de -classalize.

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China, meanwhile, imposes tariffs up to 15% In a wide range of US farm exports. UU. It also expands the number of US companies subject to export controls and other restrictions in approximately two dozen.

Trump grants an exemption from one month on his new tariffs that impact goods from Mexico and Canada For car manufacturers. The pause arrives after the president spoke with the leaders of the “Big 3” car manufacturers: Ford, General Motors and Stellantis.

In a broader extension, Trump Postpicions 25% of tariffs in many imports from Mexico and some imports from Canada for a month. But it still plans to impose “reciprocal” tariffs as of April 2.

Trump gave Sheinbaum credit for progressing in border security and drug smuggling as a reason to stop tariffs again, and the Mexican president said in an X publication that she and Trump “had an excellent and respectful decision in which we agreed that our work and collaboration have yielded unprecedented results.”

Trump’s actions also defrosted relations with Canada, although outrage and uncertainty about the commercial war remains. Even so, after its initial retaliation tariffs of $ 30 billion Canadians (US $ 21 billion) in US goods, the government said it had suspended its second wave of retaliation rates worth $ 125 billion Canadians (US $ 87 billion).

China retaliates against Trump tariffs by imposing additional 15% taxes on key American agricultural products, such as chicken, pork, soybeans and beef. The growing commercial tensions boost the lowest shares on Monday, since investors care about the pain of Trump’s commercial wars, the risk of inflicting the US economy.

Chinese tariffs were an answer to Trump’s decision to double the Chinese import tax at 20% on March 4. The Ministry of Commerce of China had said that the goods that were already in transit would be exempt from retaliation tariffs until April 12.

Trump increases tariffs on All Imports of Steel and Aluminum at 25%, Delete exemptions from your 2018 rates In metals in addition to increasing 10%aluminum tariffs.

The European Union takes Commercial action of retaliation with new duties on US industrial and agricultural products. UU. The measures will cover assets of the United States worth about 26 billion euros ($ 28 billion), and not only steel and aluminum products, but also textiles, appliances and agricultural products. Motorcycles, bourbon, peanut butter and jeans will be hit, as were during Trump’s first mandate.

Trump threatens 200% rate On European wine, champagne and spirits if the European Union advances with a 50% planned rate on the American whiskey.

The European import tax, which was revealed in response to Steel and aluminum tariffs By the US administration, it is expected that it enters into force on April 1, just ahead of the separate reciprocal tariffs that Trump plans to place in the EU.

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