financetom
Technology
financetom
/
Technology
/
All of Donald Trump's tariffs and threatened trade actions
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
All of Donald Trump's tariffs and threatened trade actions
Feb 19, 2025 8:38 AM

(Reuters) - Since returning to office last month, U.S. President Donald Trump has initiated numerous tariffs and made even more frequent threats to impose levies on imported goods.

They range from broad ones - a universal tariff on foreign-imported goods - to ones aimed at specific sectors, regions, or countries in an effort to get others to meet his policy demands.

Trump's threats have changed over time, leaving other nations and businesses unclear of what is to come next.

Here is a roundup of Trump's trade-related steps and threats. 

BROAD TARIFFS

A cornerstone of Trump's vision includes a phased rollout of universal tariffs on all U.S. imports.

Last week, Trump tasked his economics team with devising plans for reciprocal tariffs on every country that taxes U.S. imports, and to counteract non-tariff barriers such as vehicle safety rules that exclude U.S. autos and value-added taxes that increase their cost.

Whereas tariffs were once the mainstay of U.S. tax revenues, in recent decades they have dwindled to a fraction of U.S. tax receipts. Economists say Trump's policies will be inflationary as importing businesses, which pay tariffs, will likely pass added costs to consumers.

Global trading partners could impose counter-tariffs, targeting U.S. agricultural, energy, and machinery exports. This could escalate into a worldwide trade war, creating uncertainty for businesses and investors.

SPECIFIC COUNTRIES

Trump's tariff proposals target several key trade partners.

MEXICO AND CANADA: The two countries were the largest trade partners of the U.S. in 2024 through November, with Mexico ranked first. Trump announced he was imposing 25% duties on imports from Mexico and Canada to go into effect Feb. 4 as retaliation for migration and fentanyl trafficking.

Just before those tariffs were imposed, however, Trump paused them until March 4, pending negotiations with those two nations.      Canada primarily exports crude oil and other energy goods along with cars and car parts as part of the North American auto manufacturing chain. Mexico exports various goods to the U.S. in the industrial and auto sectors.

CHINA: Trump imposed a 10% tariff against China, keeping his promise to put levies on those imports. China announced it would retaliate with levies on some U.S. goods beginning on Monday. In Trump's first term, the two countries engaged in a long trade war that hurt both economies.    

EUROPE: Trump said the EU and other countries have troubling trade surpluses with the United States. He has said the countries' products will either be subject to tariffs or he will demand they buy more oil and gas from the U.S., even though U.S. gas export capacity is near its limits.

The European Commission said in a statement on February 14 that it viewed the "reciprocal" trade policy as a step in the wrong direction.

RUSSIA: Trump has threatened to hit Russia "and other participating countries" with taxes, tariffs and sanctions if a deal to end the war in Ukraine is not struck soon. 

INDIA/BRICS NATIONS: Indian Prime Minister Narendra Modi met with Trump in Washington last week and offered to talk about easing tariffs, buying more U.S. oil, gas and combat aircraft, and potential concessions.

India imposes the highest tariffs on U.S. exports of any major U.S. trading partner.

Trump also threatened the broader BRICS group of nations with tariffs if they did not commit to not create a new currency. 

COLOMBIA: Trump said he would put 25% tariffs on Colombian goods after the country refused to take in flights carrying migrants to be deported from the U.S.; the two sides worked out an agreement.

PRODUCTS

METALS: Trump on Sunday said he was going to put tariffs on imports of all steel and aluminum, used by automakers, aerospace companies, and in construction and infrastructure. 

The U.S. is the world's largest aluminum importer, according to World Bank data. It has had a trade deficit in steel for a decade, according to the International Trade Administration. It is the second largest steel importer worldwide, with more than half of those volumes coming from Canada, Mexico and Brazil.

SEMICONDUCTORS: Trump said tariffs on semiconductor chips would also start at "25% or higher", rising substantially over the course of a year, but didn't clarify when these will come into effect.

Taiwan Semiconductor Manufacturing Co the world's largest contract chipmaker, makes semiconductors for Nvidia, Apple and other U.S. clients, and generated 70% of its revenue in 2024 from customers based in North America.

PHARMACEUTICALS: Imposing 25% or higher tariffs on imported pharmaceuticals could weigh on Japan, home of major drugmakers such as Takeda, Astellas, Daiichi Sankyo and Eisai.

India would also be impacted as most domestic generic drugmakers count the U.S. as their largest market, with exports to the country accounting for about 31% of the industry's overall exports.

AUTOMOBILES: Trump said levies on automobiles would come as soon as April 2. The European Union, for instance, collects a 10% duty on vehicle imports, four times the U.S. passenger car tariff rate of 2.5%. However, the U.S. currently collects a 25% tariff on pickup trucks from countries other than Mexico and Canada.

Trump had also floated the idea of 100% or greater tariffs on other vehicles, including potentially EVs. The automobile industry accounted for imports of more than $202 billion from Canada and Mexico combined in 2024.

(This story has been corrected to change the date of imposing tariffs on Canada and Mexico to March 4, not March 1, in paragraph 13)

(Reporting by Seher Dareen, Anjana Anil and Puyaan Singh in Bengaluru; Editing by Maju Samuel, Lincoln Feast and Sriraj Kalluvila)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
The Analyst Landscape: 7 Takes On Clear Secure
The Analyst Landscape: 7 Takes On Clear Secure
Mar 22, 2024
Analysts' ratings for Clear Secure ( YOU ) over the last quarter vary from bullish to bearish, as provided by 7 analysts. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent...
Deep Dive Into Confluent Stock: Analyst Perspectives (17 Ratings)
Deep Dive Into Confluent Stock: Analyst Perspectives (17 Ratings)
Mar 22, 2024
In the preceding three months, 17 analysts have released ratings for Confluent , presenting a wide array of perspectives from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 7 5 5...
Analysis-Apple antitrust suit mirrors strategy that beat Microsoft, but tech industry has changed
Analysis-Apple antitrust suit mirrors strategy that beat Microsoft, but tech industry has changed
Mar 22, 2024
(Reuters) - The U.S. government's antitrust lawsuit against Apple ( AAPL ) draws on the watershed 1998 case that broke Microsoft's ( MSFT ) stranglehold on desktop software, but that may prove to be an imperfect blueprint for addressing smartphone competition. The market for the iPhone today looks very different from the near-monopoly enjoyed by Microsoft's ( MSFT ) Windows...
AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services
AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services
Mar 22, 2024
The two companies will establish a DePIN alliance in south-east Asia.AIOZ's native token is currently trading flat after the announcement, it is up by more than 200% in 30 days.AIOZ Network will use Alibaba Cloud to improve Web 3, AI, storage and streaming services.Decentralized infrastructure network (DePIN) AIOZ Network has become the leading blockchain partner in Alibaba Cloud’s Innovation Accelerator...
Copyright 2023-2026 - www.financetom.com All Rights Reserved