Factbox: All of Donald Trump's tariffs and threatened trade actions

KIOXIA Holdings

19/02/2025 12:23

(Adds details on reciprocal tariffs, U.S. tariffs on autos,
pharma, and chip imports, responses from different countries)
       Feb 19 (Reuters) - Since returning to office last month,
U.S. President Donald Trump has initiated numerous tariffs and
made even more frequent threats to impose levies on imported
goods. 
    They range from broad ones - a universal tariff on
foreign-imported goods - to ones aimed at specific sectors,
regions, or countries in an effort to get others to meet his
policy demands.
    Trump's threats have changed over time, leaving other
nations and businesses unclear of what is to come next.
    Here is a roundup of Trump's trade-related steps and
threats. 
     
    BROAD TARIFFS
        A cornerstone of Trump's vision includes a phased
rollout of universal tariffs on all U.S. imports.
    Last week, Trump tasked his economics team with devising
plans for reciprocal tariffs on every country that taxes U.S.
imports, and to counteract non-tariff barriers such as vehicle
safety rules that exclude U.S. autos and value-added taxes that
increase their cost.
    Whereas tariffs were once the mainstay of U.S. tax revenues,
in recent decades they have dwindled to a fraction of U.S. tax
receipts. Economists say Trump's policies will be inflationary
as importing businesses, which pay tariffs, will likely pass
added costs to consumers.
    Global trading partners could impose counter-tariffs,
targeting U.S. agricultural, energy, and machinery exports. This
could escalate into a worldwide trade war, creating uncertainty
for businesses and investors.
     
    SPECIFIC COUNTRIES
    Trump's tariff proposals target several key trade partners.
    
    MEXICO AND CANADA: The two countries were the largest trade
partners of the U.S. in 2024 through November, with Mexico
ranked first. Trump announced he was imposing 25% duties on
imports from Mexico and Canada to go into effect Feb. 4 as
retaliation for migration and fentanyl trafficking.
    Just before those tariffs were imposed, however, Trump
called postponed them until March 1 pending negotiations with
those two nations. 
     Canada primarily exports crude oil and other energy goods
along with cars and car parts as part of the North American auto
manufacturing chain. Mexico exports various goods to the U.S. in
the industrial and auto sectors.
    
    CHINA: Trump imposed a 10% tariff against China, keeping his
promise to put levies on those imports. China announced it would
retaliate with levies on some U.S. goods beginning on Monday. In
Trump's first term, the two countries engaged in a long trade
war that hurt both economies.    
    
    EUROPE: Trump said the EU and other countries have troubling
trade surpluses with the United States. He has said the
countries' products will either be subject to tariffs or he will
demand they buy more oil and gas from the U.S., even though U.S.
gas export capacity is near its limits.
        The European Commission said in a statement on February
14 that it viewed the "reciprocal" trade policy as a step in the
wrong direction.
    
    RUSSIA: Trump has threatened to hit Russia "and other
participating countries" with taxes, tariffs and sanctions if a
deal to end the war in Ukraine is not struck soon. 
    
    INDIA/BRICS NATIONS: Indian Prime Minister Narendra Modi met
with Trump in Washington last week and offered to talk about
easing tariffs, buying more U.S. oil, gas and combat aircraft,
and potential concessions. 
        India imposes the highest tariffs on U.S. exports of any
major U.S. trading partner.
    Trump also threatened the broader BRICS group of nations
with tariffs if they did not commit to not create a new
currency. 
    
    COLOMBIA: Trump said he would put 25% tariffs on Colombian
goods after the country refused to take in flights carrying
migrants to be deported from the U.S.; the two sides worked out
an agreement.
     
    PRODUCTS
    METALS: Trump on Sunday said he was going to put tariffs on
imports of all steel and aluminum, used by automakers, aerospace
companies, and in construction and infrastructure. 
    The U.S. is the world's largest aluminum importer, according
to World Bank data. It has had a trade deficit in steel for a
decade, according to the International Trade Administration. It
is the second largest steel importer worldwide, with more than
half of those volumes coming from Canada, Mexico and Brazil.
    
    SEMICONDUCTORS: Trump said tariffs on semiconductor chips
would also start at "25% or higher", rising substantially over
the course of a year, but didn't clarify when these will come
into effect.
    Taiwan Semiconductor Manufacturing Co  2330.TW  the world's
largest contract chipmaker, makes semiconductors for Nvidia,
Apple and other U.S. clients, and generated 70% of its revenue
in 2024 from customers based in North America.
    
    PHARMACEUTICALS: Imposing 25% or higher tariffs on imported
pharmaceuticals could weigh on Japan, home of major drugmakers
such as Takeda, Astellas, Daiichi Sankyo and Eisai.
        India would also 
    be impacted
     as most domestic generic drugmakers count the U.S. as their
largest market, with exports to the country accounting for about
31% of the industry's overall exports.
  
    
    AUTOMOBILES: Trump said levies on automobiles would come as
soon as April 2. The European Union, for instance, collects a
10% duty on vehicle imports, four times the U.S. passenger car
tariff rate of 2.5%. However, the U.S. currently collects a 25%
tariff on pickup trucks from countries other than Mexico and
Canada. 
    Trump had also floated the idea of 100% or greater tariffs
on other vehicles, including potentially EVs. The automobile
industry accounted for imports of more than $202 billion from
Canada and Mexico combined in 2024.

 (Reporting by Seher Dareen, Anjana Anil and Puyaan Singh in
Bengaluru; Editing by Maju Samuel, Lincoln Feast and Sriraj
Kalluvila)
 ((mailto:Anjana.Anil@thomsonreuters.com;))