Trump's Tariff Twist: A Rollercoaster of Economic Policy
U.S. President Donald Trump's tariff policies have caused turmoil in global financial markets. From imposing significant tariffs on Mexican, Canadian, and Chinese imports to pausing and adjusting these duties, Trump's decisions have been unpredictable. The timeline highlights major developments and their effects on international trade relations and economic stability.
Since taking office, U.S. President Donald Trump's approach to tariffs has sent shockwaves through financial markets and injected uncertainty into the global economy. His policy changes, often abrupt and sweeping, have significantly affected international trade relations.
In early February, Trump imposed tariffs of 25% on Mexican and Canadian imports and 10% on Chinese goods, tying them to issues such as drug control and immigration. Though threats of tariffs on Mexico and Canada were suspended in exchange for concessions, no such deal was reached with China.
By April, Trump had introduced global tariffs, pausing some country-specific duties after market turmoil. Exemptions were granted for certain electronics from China, and a limited trade agreement was reached with the UK. However, 100% tariffs were imposed on non-U.S. movies, showcasing ongoing volatility in trade policy.
(With inputs from agencies.)
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