US President Donald Trump, in his inaugural address this year, “Taff and taxed abroad to enrich our citizens.”
By determining the new Taf rates, Trump aims to reduce the country’s trade deficit, which is when the US imports more than a country, can export that country, and first announced plans for “mutual” tariffs on 13 February.
But experts have warned that tariffs can cause chaos for global markets and disrupt the US economy at home.
Timeline so far
2 April: Trump’s so -called “Liberation Day” when he announces a long -deprived “mutual” tafs, announces a 10% baseline tax on imports starting from April 5, as well as high rates for dozens of countries that are high trade deficit with the US. The calculation for tariff rates causes widespread confusion.
April 5: 10% of the minimum tarag of Trump is effective on almost all countries and regions.
9 April: Trump’s high “mutual” rate becomes effective, but his administration says that a few hours later it is stopping high rates by maintaining 10% levy on most global imports.
10 April: The European Union suspended its steel and aluminum tariff vengeance measures for 90 days – those measures were a reaction to Trip 25% of Trip on imported steel and aluminum fact effects in March.
May 23: Trump has threatened 50% tax on all imports from the European Union and at the same time 25% tariffs on smartphones have been made in the US.
Trump says that disappointment with lack of progress in conversation with the European Union, writing on the truth social: “Our discussion with The Goen is nowhere!”
26 May: Trump says that the US would delay the implementation of 50% tough on goods from the European Union from June 1 to July 9, so that the time can buy time for interaction with the block.
7 July: Trump signs executive Order To push the time limit of high taffs by 1 August and sends its first letters to the leaders of 14 countries, that their exports to the American wild face a new taff rate.
8 July: Trump says that he is not going back to his word and insists that August 1 is the deadline of August 1 the last one,
9 July: Trump sends more letters, killing Brazil with a 50% tariff rate. Brazilian President Luiz Insio Lula Da Silva has promised mutuality.
12 July: Trump announced a 35% tariff on Canadian goods, claiming that Canada had “financial vengeance” for earlier duties. Hey says that the European Union will receive a similar letter.
13 July: Trump announced a 30% tariff rate on the European Union and Mexico, both told that “whatever number you choose to choose will be added to 30% that we charge.”
31 July: Tram signs for executive order delaying the tariff deadline for the European Union and other partners from 1 August to 7 August.
6 August: Trump announced a 25% tariff rate on India’s imports due to the purchase of Russian oil, causing a total of 50%.
