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Factbox-Trump's tariffs and threatened trade actions
May 26, 2025 1:19 AM

(Reuters) - President Donald Trump said on Sunday that his top priority was to secure a fair trade deal with China, after the fallout from his chaotic tariff policy shook consumer and business sentiment globally and led to a first-quarter U.S. economic contraction.

Signs of a de-escalation in the trade war with China appeared after U.S. officials engaged in a flurry of meetings with trading partners after April 2, when Trump imposed a 10% tariff on most countries and suspended higher levies on many trading partners for 90 days.

The duties are now scheduled to kick in on July 8.

He has also imposed 25% tariffs on autos, steel and aluminium, 25% levies on imports from Canada and Mexico and 145% tariffs on China.

In his latest move, Trump imposed a 100% tariff on movies produced outside the United States and sent into the country.

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

BROAD TARIFFS

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

Trump had 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, as well as value-added taxes that increase their cost.

SPECIFIC COUNTRIES

Trump's tariff proposals target several key trade partners; some are listed below.

MEXICO AND CANADA: The two countries were the largest trade partners of the U.S. in 2024 through November, with Mexico ranked first. Trump's new 25% tariffs on imports from Mexico and Canada took effect on March 4 as a retaliation for migration and fentanyl trafficking.

The tariffs included a 25% levy on most goods from Mexico and Canada, along with a 10% duty on Canada's energy imports. Canada primarily exports crude oil and other energy goods, as well as cars and auto parts within the North American auto manufacturing chain. Mexico also exports various goods to the U.S. in the industrial and auto sectors.

Canada hit back with 25% tariffs on C$30 billion ($21.13 billion) worth of U.S. imports, including orange juice, peanut butter, beer, coffee, appliances and motorcycles.

The Canadian government added that it would impose additional tariffs on C$125 billion of U.S. goods if Trump's tariffs were still in place in 21 days, with the potential inclusion of vehicles, steel, aircraft, beef and pork.

U.S. Commerce Secretary Howard Lutnick said U.S. officials might still work out a partial resolution with the two neighbors, adding that they needed to do more on the fentanyl front.

On March 12, Canada said it would impose retaliatory tariffs on U.S. imported goods worth C$29.8 billion ($20 billion) in response to Trump's steel and aluminum tariffs.

While the two countries are currently exempt from the "Liberation Day" tariffs announced on April 2, they do face a separate set of 25% tariffs on auto imports.

Canada has requested WTO dispute consultations with the U.S. over its imposition of import duties on certain steel and aluminium products, as well as the levies on cars and car parts from Canada.

CHINA: Trump levied 10% tariffs across all Chinese imports into the U.S., effective on February 4, following repeated warnings to Beijing about insufficient measures to halt the flow of illicit drugs into the U.S.

He followed that up with another 10% duty on Chinese goods, effective March 4.

China responded by announcing additional tariffs of 10% to 15% on certain U.S. imports from March 10 and a series of new export restrictions for designated U.S. entities. Later it raised complaints about the U.S. tariffs with the WTO.

On April 2, Trump imposed an additional 34% tariff on China, bringing the total new levy to 54%, which prompted the world's second-biggest economy to retaliate with a duty of 34% on all U.S. goods.

Trump responded that the U.S. would impose an additional 50% tariff on China if Beijing does not withdraw its retaliatory tariffs on the U.S., and said "all talks with China concerning their requested meetings with us will be terminated."

Washington's fresh round of tariffs lifted duties on China to an eye-watering 145%, prompting Beijing to jack up levies on U.S. goods by 125% in an intensifying trade war between the world's two biggest economies.

EUROPE: Trump said the EU and other countries have troubling trade surpluses with the U.S. 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 27-nation bloc faces 25% import tariffs on steel, aluminium, and cars, as well as broader tariffs of 20% from April 9 for almost all other goods. Among vulnerable industries is pharmaceuticals, as U.S. firms such as Johnson & Johnson and Pfizer have large plants in Ireland, which is also a major exporter of medical devices.

The European Union said on April 7 it had offered a "zero-for-zero" tariff deal to avert a trade war, with EU ministers agreeing to prioritize negotiations while striking back with targeted countermeasures next week.

The EU on March 12 said it would impose counter-tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month in response to Trump's metals tariffs. The bloc is expected to produce a larger package of countermeasures by the end of April as a response to U.S. car and broader tariffs.

On March 13, Trump threatened to slap a 200% tariff on European wine and spirits in response to the EU plan to impose tariffs on American whiskey and other products next month.

PRODUCTS

AUTOS: On March 26, Trump unveiled a 25% tariff on imported cars and light trucks. The 25% levy would be imposed on top of previous duties on imports of finished vehicles starting on April 3.

However, on April 29, he signed a pair of orders to soften the blow of his auto tariffs with a mix of credits and relief from other levies on materials.

In a partial rollback of his tariff policies, the Republican president has granted automakers a two-year window to increase the share of domestic components in vehicles built in the U.S.

METALS: On March 12, Trump increased tariffs on all steel and aluminum imports to 25%, and extended the duties to hundreds of downstream products, from nuts and bolts to bulldozer blades and soda cans.

The U.S. is the world's largest aluminum importer and the second-largest steel importer, with more than half of those volumes coming from Canada, Mexico and Brazil.

Trump on February 25 ordered a fresh probe into possible new tariffs on copper imports to rebuild U.S. production of the metal critical in electric vehicles, military hardware, semiconductors and a wide range of consumer goods.

The U.S. domestically produces just over half the refined copper it consumes each year.

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

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

LUMBER: Trump on March 1 ordered a new trade investigation that could heap more tariffs on imported lumber, adding to existing duties on Canadian softwood lumber and 25% tariffs on all Canadian and Mexican goods.

ALCOHOL: Trump on March 13 threatened to slap a 200% tariff on wine, cognac and other alcohol imports from Europe, in response to a European Union plan to impose tariffs on American whiskey and other products - which itself is a retaliation to Trump's 25% tariffs on steel and aluminum imports that took effect the day before.

PHARMACEUTICALS: While Trump's "Liberation Day" announcement spared pharmaceutical products from reciprocal tariffs, the president later said duties for the sector were "under review" and warned that it could come in "at a level that you haven't really seen before."

ELECTRONICS: Trump granted smartphones, computers and some other electronics imported largely from China exclusions from steep tariffs, a welcome relief for major technology firms such as Apple ( AAPL ), Dell Technologies and many other importers.

The move excludes the specified electronics from Trump's 10% baseline tariffs on goods from most countries other than China.

($1 = 1.4197 Canadian dollars)

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