As of February 2025, the United States has implemented significant tariffs on imports from China, Canada, and Mexico, marking a substantial shift in its trade policy.
China:
On February 4, 2025, the USA imposed a 10% tariff on all imports from China. This action has escalated tensions, with China retaliating by announcing countermeasures, including a 15% tariff on coal and liquefied natural gas products, and 10% tariffs on crude oil, agricultural machinery, and large-displacement cars.
Canada and Mexico:
On February 1, 2025, President Trump signed executive orders imposing a 25% tariff on all goods from Canada and Mexico, with a 10% tariff on Canadian energy exports. These tariffs were initially set to take effect on February 4 but were paused for one month after both countries agreed to enhance border security measures to prevent the trafficking of drugs into the USA.
Steel and Aluminum Tariffs:
In addition to the tariffs on imports from China, Canada, and Mexico, President Trump announced a 25% tariff on all steel and aluminum imports, effective March 12, 2025. This move has prompted immediate responses from various countries, including the European Union who have pledged proportional countermeasures.
United Kingdom:
The UK government has chosen not to join the EU in retaliating against the U.S. steel tariffs. UK officials believe that retaliatory tariffs would have minimal impact and prefer to negotiate an exemption from the U.S.-imposed tariffs. Prime Minister Keir Starmer has expressed opposition to any form of tariff imposition.
These developments have raised concerns about potential global trade tensions and their impact on international relations and the global economy.
