In the fall of 2024: Donald Trump wins the presidential post in the USA again. During the campaign, he has, among other things, promised punitive tariffs against a number of countries. Existing tariffs on all goods from China will be increased by 10 percent. Trump also promises to decide on tariffs of 25 percent on all goods from neighboring countries Mexico and Canada on his first day in the White House.
February 1, 2025: Trump introduces, starting February 4, tariffs against Canada, Mexico, and China. Two days later, the Mexican and Canadian tariffs are postponed after the two countries meet Trump halfway on other issues.
February 10: Trump introduces increased steel and aluminum tariffs, which goes against how he reasoned during his first presidential period.
February 13: Trump announces that additional tariffs are to be expected in April, against, among others, India and the EU.
March 4: Trump's tariffs against Canada, Mexico, and China come into effect. However, parts of the decision are lifted in the following days, among other things to facilitate the American automotive industry.
March 10: China's retaliatory tariffs on American agricultural products take effect.
March 13: Trump threatens with 200-percent tariffs on European wine and spirits if the EU's threat of 50-percent tariffs on American whiskey becomes a reality.
March 26: Trump promises forthcoming 25-percent tariffs on imported cars and car parts.
April 2: Trump declares "Liberation Day" – and introduces 10-percent tariffs against all countries in the world. A long list of countries, however, face a significantly higher figure. Some of the tariffs are introduced immediately, while others will be introduced in the following days. World leaders and economists condemn the decision, and stock markets fall.
April 5: The first of Trump's tariffs are introduced, including 10-percent tariffs for all countries except Mexico and Canada.
April 7: Trump escalates the trade conflict with Beijing. The US President adds an additional 50 percent in punitive tariffs – a total of 104 percent. The tariffs are introduced the next day. Beijing calls Trump's message "a mistake on top of a mistake".
April 9: Trump's tariffs against nearly 60 countries come into effect – but are paused after less than a day. The President then announces via Truth Social that the US is pausing tariffs for 90 days for all countries except China.
China, instead, gets increased tariffs, at 125 percent, in response to China raising tariffs on goods from the US to 84 percent.
