The Trump administration has confirmed it will maintain a 10% import tariff on nearly all goods entering the United States, a measure that officially took effect on Saturday. This flat-rate tariff replaces the previously proposed higher rates—20% on goods from the European Union, 24% on imports from Japan, and 25% on products from South Korea. Those elevated tariffs are now on hold, at least for the time being.
China, however, remains a notable exception. Tariffs on Chinese imports will skyrocket to 125%, significantly raising the stakes in the ongoing trade conflict between the world’s two largest economies. Analysts warn that this escalation could lead to further instability in global markets.
A Brief Timeline of Trump’s Tariff Escalation
President Trump’s tariff strategy has shifted quickly over the past few months, creating waves of uncertainty across financial and trade sectors. Here’s a look at the key moments:
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Jan. 20: On his first day in office, Trump announces plans to impose 25% tariffs on imports from Canada and Mexico, while deferring action on China.
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Feb. 1: Trump signs an executive order establishing 10% tariffs on Chinese goods and 25% tariffs on imports from Canada and Mexico, citing national security concerns.
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Feb. 3: Following negotiations, Trump agrees to a 30-day pause on tariffs for Canada and Mexico after both countries pledge cooperation on border security and drug enforcement.
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Feb. 13: Trump introduces the concept of “reciprocal” tariffs, aiming to match the rates that other countries charge on U.S. goods—marking a significant departure from decades of free-trade policy.
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April 2: The administration announces a 10% blanket tariff on most imports starting April 5, with even steeper rates for countries running trade surpluses with the U.S. to begin April 9.
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April 4: China responds with a 34% tariff on all U.S. imports, set to take effect April 10, escalating tensions and launching a full-blown trade dispute.
While the pause on broader tariffs has calmed investors for now, the steep rise in penalties on Chinese imports has kept global markets on edge—leaving the path ahead uncertain.
