Trump's Tariff Tracker – July 7 Edition

A COMPREHENSIVE TIMELINE OF TRUMP'S IDIOTIC TRADE WAR

Since we've got big new tariff developments this week, here's what you need to know:

On April 9, Trump announced a "90-day pause" on all reciprocal tariffs, which would go into effect on July 9. In the meantime, he told everyone that "countries are calling me up, kissing my ass...begging to make deals," and announced his "90 deals in 90 days" plan.

Treasury Secretary Scott Bessent went before Congress June 13 and said 70 nations had contacted the U.S. to request "rapid negotiations" before the July 9 deadline.

With just 2 days left to go on his "90 deals in 90 days" plan, Trump has managed to make exactly THREE deals so far: China, UK, and Vietnam. So, he TACO’d and announced the July 9 deadline would now be extended to August 1.

Bessent went on CNN's State of the Union yesterday and said that:

1. The new deadline isn't a new deadline, it's just "when it's happening.”

2. Most of the those countries he and Trump told Congress and the American public were calling and begging to make deals "never even contacted us."

Here is the comprehensive timeline** of every tariff action taken since Trump’s inauguration:

Tariff Timeline

Jan 21 – Trump threatens 25% tariffs on all goods from Canada and Mexico, citing a “very unfair” and “horrible” trade agreement with both countries, says “I’d love to know who the hell signed such a terrible agreement.” (it was Donald Trump, in 2018)

Jan 27 – Trump announces that he will soon be announcing new tariffs on computer chips at some point in the future.

Jan 30 – Trump threatens 100% tariffs on BRICS nations (Brazil, Russia, India, China, South Africa) if they attempt to create a BRICS currency or try to replace the U.S. dollar with a different reserve currency.

Jan 31 – Trump declares there’s nothing China, Canada, or Mexico can do to stop the impending tariffs, vows tariffs will take effect the next day.

• Trump announces new plan to tariff oil and gas starting Feb 18, pharmaceuticals “at some point in the future,” steel and aluminum “right away,” and copper “before long.”

Feb 1 – The day Trump vowed tariffs would take effect, Trump signs 3 Executive Orders declaring the 25% tariffs on Canada and Mexico and 10% tariffs on China will go into effect Feb 3.

Feb 2 – Trump threatens tariffs on the European Union because they don’t buy our agriculture products.

• Trump pauses tariffs on Canada and Mexico hours before they’re scheduled to take effect.

Feb 3 – 10% tariffs on China take effect.

Fed 10 – Trump signs 2 Executive Orders imposing 25% tariffs on all steel and aluminum beginning March 12.

Feb 13 – Trump announces new “reciprocal tariffs” on everyone on earth who has tariffs on the U.S., asking for a report by April 1 listing the 200+ countries, territories, and regions the U.S. trades with. The global tariffs would tax everything from uranium to seafood to sweatpants.

Feb 14 – Trump announces plans to place tariffs on all auto imports on April 2, though he’s not sure how much or on which nations.

Feb 25 – Trump signs Executive Order instructing an investigation into whether importing copper threatens national security, requiring tariffs on copper.

Feb 27 – Trump announces paused tariffs on Canada and Mexico will go into effect March 4 as well as an additional 10% tariffs on China.

Feb 28 – Canadians begin boycotting American products and foregoing trips across the border to protest Trump’s tariffs.

March 1 – Trump signs Executive Memorandum instructing an investigation into whether importing lumber threatens national security, thus requiring tariffs on lumber, orders an increase in lumber production.

March 3 – Trump announces that global agricultural tariffs will go into affect April 2.

March 4 – 25% tariffs on Canada and Mexico take effect.

• Canada imposes 25% tariff on $21 billion worth of U.S. goods.

• China announces retaliatory tariffs on certain agricultural imports in response to Trump’s 20% tariff increase including 15% on chicken, wheat, corn, and cotton; and 10% on soybeans, pork, beef, fish, fruits, vegetables, and dairy. China also bans 15 U.S. entities from importing any dual-use items from China.

March 5 – Trump accuses Canadian Prime Minister Justin Trudeau of imposing reciprocal tariffs on the U.S. “to stay in power.” Trudeau leaves office a week later.

• Trump pauses tariffs on cars from Canada and Mexico for 1 month.

March 6 – Trump pauses tariffs on any imports from Canada and Mexico that comply with the free-trade agreement he signed in 2018, accounting for 50% of the goods from Mexico and 38% from Canada.

• Trump announces Canadian energy and potash tariffs will be 10% instead of 25%.

March 7 – Trump threatens tariffs on Russia unless a ceasefire and “FINAL SETTLEMENT AGREEMENT ON PEACE IS REACHED.” (One will be tentatively reached on March 19, though Russia will not follow it)

March 10 – Ontario, Canada announces a 25% surcharge on the electricity it exports to Michigan, Minnesota, and New York. Ontario Premier Doug Ford warns that they will completely shut off the supply of electricity if Trump doesn’t stop the trade war.

March 11 – Trump threatens to double tariffs on steel and aluminum from Canada to 50%, demands Canada become the 51st state.

• Both sides relent. Ford agrees to drop 25% surcharge on electricity, Trump agrees not to double steel and aluminum tariffs.

• Trump notifies Canada that the U.S. will begin enforcing a law requiring Canadian citizens to register with U.S. authorities when entering the country.

March 12 – Trump’s global 25% steel and aluminum tariffs go into effect.

• Canada announces 25% tariffs on $20.7 billion worth of U.S. good in response to 25% steel and aluminum tariffs.

• European Union announces retaliatory tariffs on $28 billion in U.S. goods starting in April.

March 13 – European Union announces 50% tariffs on American whiskey in response to steel and aluminum tariffs.

• Trump threatens 200% retaliatory tariffs on European wine, champagne, and liquor in response to whiskey tariffs.

• Trump’s Commerce Secretary, Howard Lutnick, warns the rest of the world against placing retaliatory tariffs on the U.S.

March 20 – European Union announces delay of retaliatory tariffs until the middle of April.

March 24 – Trump signs Executive Order to place tariffs on any country that buys oil or gas from Venezuela.

• Trump suggests he “may give a lot of countries breaks” and “we may be even nicer than that” on the global tariffs set to start April 2.

March 26 – Trump announces plans to impose a 25% on all imported automobiles and auto parts starting April 2.

March 27 – New Canadian Prime Minister Mark Carney says U.S. is “no longer a reliable partner” and that Canada will move to trade more with other countries instead.

April 2 – Declaring this “Liberation Day,” Trump signs Executive Order declaring a National Economic Emergency, placing 10% baseline tariffs on 185 nations, territories, and uninhabited islands populated entirely by penguins, plus additional “Reciprocal Tariffs” of 17%-50% on 60 of those countries. Conspicuously absent from the list of “everyone” is Russia, who still hasn’t followed through on any cease-fires with Ukraine.

April 4 – China imposes 34% retaliatory tariffs on America.

• China imposes export restriction on 7 rare earth minerals and magnets used in defense, energy, and automotive sectors.

April 5 – Global baseline 10% tariffs take effect, tanking the stock market.

April 7 – Trump announces additional 50% tariffs on China starting April 8 if they don’t rescind their 34% retaliatory tariffs.

April 8 – Trump announces additional additional 50% tariffs on China starting April 9, bringing the total tariffs on China to 104%.

April 9 – “Liberation Day” tariffs take effect at 12:01 am on 86 countries.

• 6 am – China announces additional 50% retaliatory tariffs, bringing the total tariffs on the U.S. to 84%

• 9:37 am – With the stock market at lows not seen since COVID, Trump announces on Truth* Social that “now is a good time to buy.”

• 1 pm – Trump announces 90-day pause on all reciprocal tariffs above the 10% baseline for everyone except China. Announces new 125% tariffs on China.

• 6 pm – Markets skyrocket following announcement of 90-day pause. Bloomberg reports world’s richest people added $304 billion to their personal fortunes in largest one-day increase in Bloomberg’s Billionaire Index history. Top earner is Elon Musk with $36 billion.

April 10 – Trump announces additional 20% tariff on China, raising total to 145%.

• Trump announces 90-day pause on 25% retaliatory tariffs on U.S. goods in response to Trump’s 90-day pause.

April 11 – China announces additional 20% on U.S. raising total to 125%. China’s State Council warns that it will “fight to the end.”

• U.S. Trade Representative Jameison Greer tells Senate Finance Committee that Trump has “been clear that he does not intend to give exemptions to his tariffs.”

April 12 – Trump announces nearly 2 dozen exemptions to his tariffs including smartphones, computers, flash drives, TV displays, and other electronics, suggesting importers could get a refund for duties paid on those items from April 5.

• China orders all its airline carriers to stop receiving deliveries of Boeing jets, and to halt any purchases of aircraft-related equipment and parts from U.S. companies.

April 15 – Hong Kong cancels all postal service to and from the U.S.

April 18 – Trump announces additional 17% tariffs on tomatoes from Mexico starting in July.

May 4 – Trump announces 100% tariffs on all movies produced outside the U.S.

May 9 – One month into "90 deals in 90 days," Trump announces FIRST “deal” with UK: 10% tariffs on imports from UK (which is what they were already set at as of April 2), no tariffs on plane parts, steel, or aluminum; and 0% reciprocal tariffs on beef and agricultural products. It’s unclear to the world how, exactly, this constitutes a “deal.”

May 11 – Trump and China mutually agree to reduce tariffs by 115% for 90 days. This drops tariffs on Chinese imports to 30%, while tariffs on U.S. imports fall to 10%.

May 13 – China removes ban on Boeing deliveries after tariff pause.

May 22 – Trump announces EU trade talks are "going nowhere," recommends 50% tariffs starting June 1.

May 23 – After exempting smart phones from tariffs on April 12, Trump threatens 25% tariff on iPhones, Samsungs, and all other smart phones made outside the U.S.

May 25 - Trump announces 50% EU tariffs will be delayed to July 9.

May 26 - Wall Street gives Trump the nickname “TACO” (Trump Always Chickens Out).

May 28 - U.S. Court of International Trade rules Trump’s sweeping “Liberation Day” tariffs illegal.

May 29 - Appeals court rules Trump’s tariffs can stay in place while an appeal is being heard. Trumps vows to appeal all the way to the Supreme Court.

May 30 - Trump announces all tariffs on steel will be doubled from 25% to 50% starting next week.

June 12 – With less than a month to go on his "90 deals in 90 days" agenda, Trump announces SECOND trade deal has been reached with China (though not signed): Chinese goods will have 55% tariffs, U.S. goods will remain at 10%.

June 13 – Treasury Secretary Scott Bessent tells Congressional Ways & Means Committee that more than 70 nations have contacted the U.S. to request "rapid negotiations" before July 9 reciprocal tariff deadline.

June 17 – Trump officially signs UK trade deal, announces to the nation he just signed an "EU (European Union) trade deal," of which UK is not a member.

July 2 – With a week to go on his "90 deals in 90 days" agenda, Trump announces THIRD trade deal has been reached with Vietnam: 20% (rather than initial 46% “reciprocal rate” announced in April) on imports, while Vietnam will pay 0% on American imports.

July 6 – Trump announces July 9 reciprocal tariff deadline will be extended to August 1.

• Scott Bessent tells CNN that new August 1 deadline isn't a new deadline, it's merely "when it's happening." In same interview, Bessent says the lack of progress on "90 deals in 90 days" is because most of the countries "never even contacted us," contradicting his June 13 testimony to Congress as well as Trump's claim that countries were calling and "begging to make deals."

• Trump announces new 10% tariff on any nation who sides with BRICS policies.

July 7 – Trump announces 25% tariffs on all goods from Japan and South Korea; promises any retaliatory tariffs from either country will be added on top of the 25%.

• Trump sends out letters to 14 nations outlining the new tariffs they’ll face if they don’t reach trade agreements with the U.S. by Aug. 1.

• Trump says that new August 1 “non-deadline” deadline is not set in stone and may be subject to additional extensions.

July 8 – Trump writes on social media that “No extensions will be granted” to the August 1 [non]deadline.

• Trump announces 50% tariff on all copper imports, threatens 200% tariffs on pharmaceuticals

July 9 – Trump announces 50% tariff on Brazil — despite having a trade SURPLUS with the country — as retaliation for the "very unfair way" Brazil is treating their former president, Jair Bolsonaro, who is facing criminal charges for attempting a coup to stay in power after losing re-election in 2022.

(***This article is updated on an ongoing basis.)