
The tariff timeline: How Trump 2.0 policy is reshaping global trade
Subscribe to enjoy similar stories. When Donald Trump announced his bid for reelection in November 2022, the 45th President of the US relied on promises of sweeping reforms to win the American people over. Among these promised reforms was the idea of increasing tariffs.
A tariff is a tax imposed on goods and services imported from another country. The primary purpose of tariffs is to encourage people to buy locally and help the domestic economy. Also read: What colour is your dal? If it’s yellow, the US wants a free pass. As of 31 March 2025, POTUS has announced tariffs targeting its major trade partners, China, Canada, and Mexico.
Interestingly, this is not the first time Trump has engaged in a tariff war; his first term saw the beginning of a trade war with China. Here is a timeline of the second Trump administration’s tariff strategy as it unfolds: Also read: How Trump's armtwisting on tariffs could impact India's superbike market In his inaugural address, Trump vowed to impose tariffs and taxes on other countries to revamp US trade and make Americans rich. "Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens," Trump said, adding, “For this purpose, we are establishing the External Revenue Service to collect all tariffs, duties and revenues." Also read: India to drop ‘Google tax’ from 1 April amid US tariff threats Meanwhile, the Indian government was preparing to get into a tricky trade situation with the US.
Read this reporton how India wanted to engage with Washington to ease market access to US products in the country. The US President signed an executive order imposing tariffs on goods from Mexico, Canada, and China. Imports from China faced a
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