January–March 2025
● In the first months of his return to the White House, Trump is focused on America’s three largest trading partners: Canada, Mexico and China. Temporary tariffs will be imposed on February 4 and lifted two days later. However, China’s remains.
● On February 10, Trump imposes global steel and aluminum tariffs of 25 percent.
● Trump will introduce new tariffs against Canada and Mexico on March 4th – at the same time, the China tariffs will be raised to 20 percent.
● On March 13, Trump threatened 200 percent tariffs on European wine and spirits after the EU threatened 50 percent tariffs on American whiskey. On March 26, the president threatened 25 percent tariffs on imported cars and auto parts.
April 2025
● The trade war is escalating. On April 2, Trump imposed sweeping tariffs on many countries, including 20 percent tariffs on all goods from the EU. A week later, tariffs will be halved to 10 percent, with a negotiation period of 90 days. The 25 percent tariffs on steel, aluminum and cars/auto parts remain in place.
● While the President is suspending other tariffs, tariffs in China are being increased – to 125 percent. This is in retaliation after China increased tariffs on goods from the US to 84 percent. On April 10, the USA increases tariffs against China to 145 percent. The next day, China responded with tariffs of 125 percent.
May–July 2025
● On May 12, China and the US agreed on a 90-day tariff break. During this period, the USA will reduce its tariffs from 145 to 30 percent and China from 125 to 10 percent.
● On May 29, a federal court halted import tariffs imposed by US President Donald Trump, citing emergency laws – including the blanket 10 percent tariffs. The decision also affects the 25 percent tariffs on certain goods imported from Mexico and Canada. However, the stay is stayed by a US appeals court until the decision is appealed.
● After lengthy negotiations, the USA and the EU agreed on a new tariff agreement of 15 percent on July 27th.
August 2025
● On August 7th, tariffs of 10 percent or more will come into force for more than 60 countries and the EU. In addition, import duties against Canada will be increased by 35 percent.
● The tariff break with China will be extended on August 11th.
● On August 30, a US appeals court rules that Trump’s tariffs are illegal.
September 2025–February 2026
● On September 10, 2025, the U.S. Supreme Court announces that the tariffs will be reviewed. Trump justified the tariffs with an emergency law that gives the president the authority to deal with “unusual and extraordinary” threats during national emergencies.
● In January, the president threatened to increase tariffs for European countries by 10 percent due to his involvement in the Greenland issue. On January 21st he backed down from the threat.
● On February 20, 2026, HD determines that the tariffs are unlawful. It’s about the flat-rate, country-specific tariffs. The decision does not cover tariffs on vehicles, steel and aluminum.
