Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a trade war abroad—all while on-again, off-again new levies continue to escalate uncertainty.
Trump is no stranger to tariffs. He also launched a trade war during his first term in office, but has more sweeping plans now. Economists stress there could greater consequences on businesses and economies worldwide this time—and that higher prices will likely leave consumers footing the bill.
There’s also been a sense of whiplash from Trump’s back-and-forth tariff threats and responding retaliation, including recently-postponed levies for some goods from Canada and Mexico that followed a 30-day pause for the auto industry. The uncertainty has roiled financial markets, lowered consumer confidence, and enveloped many businesses with questions that could delay hiring and investment.
Here’s a timeline of how we got here:
Trump’s first term
Trump launches a trade war during his first term in office—taking particular aim at China.
The two countries exchange a series of tit-for-tat levies, with Trump putting tariffs on most Chinese goods and Beijing responding with its own retaliatory tariffs on U.S. products ranging from fruit, soybeans and wine to aircraft, automotive and chemical imports.
Separately, Trump slaps tariffs on imported solar panels and washing machines. And in 2018, he escalates tensions with other trading partners by imposing taxes of 25% on imported steel and 10% on aluminum imports. He also uses the threat of more tariffs to force Canada and Mexico to renegotiate a North American trade pact, called the U.S.-Mexico-Canada Agreement, in 2020.
Read the full timeline from the Associated Press.
