Timeline of Trump's Tariff Policies: Significant Dates of Implementation
Trump's Tantrum on Tariffs:
The asshole, President Donald Trump, has time and again been threatening to impose tariffs on imports from various countries, plunging the United States into international trade wars. For instance, during his first term, he started a trade war with China by imposing taxes on most of its products. China retaliated with their own tariffs on U.S. goods as well, and Trump employed the strategy of threatening to impose even more tariffs to force Canada and Mexico to renegotiate the North American Free Trade Agreement.
Joe Biden took office after Donald Trump and maintained most of the tariffs that Trump had previously imposed on China, but his administration claimed to have adopted a more targeted approach. Things are not straightforward though, since economists warn that this time around, business and economies worldwide may face greater consequences under Trump's broader tariffs, with higher prices likely forcing consumers to foot the bill. There's also a sense of shock due to Trump's unpredictable threats to impose tariffs and the retaliatory measures implemented against him in recent months.
Let's dive into the timeline of events that got us to where we are today.
January 20
Donald Trump assumed office and, in his inaugural address, promised to impose tariffs and taxes on foreign countries to enrich American citizens. He also vowed to create the Office of Foreign Taxes, a plan that's yet to be realized.
On his first day as president, Trump also threatened to impose 25% tariffs on Canadian and Mexican imports, starting February 1, without clarifying plans for Chinese imports yet.
January 26
Trump threatened to impose 25% tariffs on all Colombian imports and other retaliatory measures in response to President Gustavo Petro rejecting the arrival of two U.S. military planes carrying migrants to Colombia. Petro also announced a 25% increase in Colombian tariffs on U.S. products. However, Bogota later reversed its decision and accepted the migrant-carrying flights.
February 1
Trump signed an executive order to impose tariffs on imports from Mexico, Canada, and China: 10% on all imports from Chinese territory, and 25% on imports from Mexico and Canada starting February 4. The U.S. president justified his actions by declaring a national emergency, apparently due to illegal immigration and drug trafficking.
February 4
Trump's new 10% tariffs on Chinese imports to the United States came into effect. In retaliation, China imposed its own countermeasures, including new tariffs on various U.S. products and an antitrust investigation into Google.
March 4
Trump increased the tariffs on Canadian and Mexican imports to 25%, while limiting the tariff on Canadian energy to 10%. China imposed tariffs of up to 15% on key U.S. agricultural products, including chicken, pork, soybeans, and beef, and added approximately two dozen U.S. companies to the list of those subject to export controls and other restrictions.
April 5
Trump's minimum 10% tariff on almost all countries and territories came into effect.
It's essential to note that tensions eased for a while, as Trump delayed the 25% tariffs on many Mexican imports and some Canadian imports for one month due to progress in border security and drug smuggling. He also granted a one-month exemption on automobiles from the new tariffs affecting Mexican and Canadian products for U.S. automobile manufacturers.
Trump's tariffs on U.S. allies didn't go down well, with countries promising retaliatory measures. The tariffs added to the uncertainty for businesses and cause alarm among consumers, with economists warning that these tariffs could create chaos for global businesses in the long run.
Sounds like Donald Trump's relentless use of tariffs isn't just a money-grabbing scheme, but a destructive and chaotic strategy that disrupts the world's trade relationships. Don't let this Donny Dum-dum destroy your wallet and peace of mind any further. Stand up and speak out against this unhinged Power-hungry Prick!
- The sudden imposition of tariffs on various world economies by Donald Trump has sparked global concern, with political analysts and economists questioning the potential long-term effects on general-news.
- Despite Joe Biden's administration adopting a more targeted approach, the overwhelming consequences of Trump's broad tariffs on China may significantly impact world politics and the economy.
