Trump Tariffs
A history of the tariffs under Trump.
First Administration
TODO: learn some history!
Second Administration
Immediate actions taken by Trump upon election included:
Set tariffs of 20% on all imports from Chinese
Set tariffs of 25% on many specific imports from Canada and Mexico
Temporary exceptions were made for specific manufacturers, especially automotive manufacturers, for imports from Canada and Mexico that are compliant with USMCA.
- The implementation of these tariffs was delayed for effectively a month.
Ordered the USPS end the de minimis exemption on parcels from China.
The USPS and CBP were not prepared to process duties in this manner, so parcel services with China and Hong Kong were closed immediately. The fallout of this closure forced the administration to delay implementation for about a month.
Bundled into the announcement of a delay, however, was a declaration of intent to end the de minimis exemption on parcels from Canada and Mexico in addition to China.
The anticipation of a tariff war contributed to the downfall of the Trudeau government. Trudeau and Freeland disagreed on how to respond to the threat, and the latter's resignation triggered a loss of confidence. Trudeau resigned and announced a leadership contest, through which Carney emerged the winner. In the meantime, provincial governments retaliated within their powers. Ontario announced export fees on energy and threatened to ban energy exports entirely. Several provinces, such as British Columbia, effectively banned importation of American alcohol through their control of alcohol distribution. In the context of these policies, the new Carney government announced retaliatory tariffs on American raw goods such as steel and aluminum.
By comparison, Sheinbaum approached the threat of tariffs diplomatically.
In the following weeks, the administration took these further steps:
- Set tariffs of 25% on all car, steel, and aluminum imports.
Following the above noted delay, the USPS implemented ending the de minimis exemption on parcels from China.
Actions taken in April 2025 included:
- Set 'baseline' tariffs of 10% on all imports.
Set supplemental 'reciprocal' tariffs. These are in fact calculated according to BOP.
Highest rate was set on Lesotho, at 50%.
Strangest rate is 10% on the joint (US-UK) military base in the British Indian Ocean Territory.
The implementation of these all were delayed, except for the escalation with China (see below).
As noted above, tariffs were already set on Mexico and Canada, and exemptions had already been created. The supplemental tariffs would have raised these rates, but as noted above, the implementation of those were delayed. Carney had already announced and implemented reciprocal tariffs on car imports from the U.S.
Von Der Leyen announced reciprocal tariffs on steel and aluminum. Of the 27 member states, only Hungary voted against these measures. These were delayed when Trump unilaterally announced a delay to all 'reciprocal' tariffs except for those applied on Chinese imports.
Jinping announced retaliatory tariffs on American agriculture and export controls on specific manufacturers. A sequence of ratcheting escalations landed on tariff rates of 145% (into U.S.) and 125% (into China).
Many nations have attempted to negotiate exemptions or even reduce the pre-existing trade barriers. Vietnam lowered tariffs preemptively.
Actions taken in May 2025 included:
- Signing a bilateral trade agreement with the UK. The tariff rate applied to car imports is lowered to 10%. Steel, aluminum, and specific aerospace components are exempted from tariffs entirely. The UK meanwhile will drop trade barriers against beef imports.
- An agreement was reached with China leading to tariffs rates being lowered to 30% (into U.S.) and 10% (into China).