Trump's Tariff Tango: A Chaotic Trade Dance
Since taking office, U.S. President Donald Trump's tariff decisions have led to global economic uncertainty. A timeline of key developments from February to May highlights shifts in tariffs on imports from Canada, Mexico, China, and the EU, impacting pharmaceuticals and the entertainment industry.
U.S. President Donald Trump has consistently confounded financial markets with his unpredictable tariff policies, which have unleashed a wave of global economic uncertainty since he assumed office on January 20.
In a series of swift changes, Trump imposed 25% tariffs on goods from Mexico, Canada, and China in early February, targeting issues such as illegal immigration and the flow of fentanyl. Significant tariff fluctuations continued as Trump negotiated temporary delays and exemptions while increasing duties on certain imports.
A landmark decision in May saw a U.S. trade court block Trump's sweeping tariffs, ruling they were beyond his presidential authority. This legal pushback introduced further complexity in the economic landscape, leaving the administration to navigate ongoing appeals and international trade talks.
(With inputs from agencies.)
Google News