Since President Donald Trump became the leader of the United States on January 20, he made some big decisions about taxes on goods from other countries. These taxes are called tariffs. Tariffs are extra fees you pay when you buy things from other countries. Trump’s choices surprised many people and made money markets go up and down a lot. Here’s what happened, step by step:
February 1
Trump put a 25% tax on many things coming from Mexico and Canada and a 10% tax on stuff from China. He wanted these countries to stop sending illegal drugs called fentanyl and people who cross the border without permission.
February 3
After a few days, Trump paused the tariffs on Mexico and Canada for 30 days because they promised to help with border safety. But he did not make this deal with China.
February 7
Trump delayed the tariffs on small, cheap packages from China until the government made sure they could collect the taxes properly.
February 10
Trump made the tax on steel and aluminum imports go up to 25% for everyone, with no exceptions.
March 3
Trump said the 25% tax on goods from Mexico and Canada would start on March 4. He also raised the fentanyl tax on all Chinese goods to 20%.
March 5
After talking to car company bosses, Trump delayed the tax for one month on some cars made in Canada and Mexico.
March 6
Trump said some goods from Canada and Mexico were exempt (not taxed) for a month because of a North American trade agreement.
March 26
Trump announced a 25% tax on imported cars and light trucks from other countries.
April 2
Trump announced new global tariffs: a 10% tax on almost everything coming into the U.S., with even higher taxes on some big trading partners.
April 9
After big losses in the stock markets worldwide, Trump paused most of his new country-specific tariffs for 90 days, but the 10% tax on almost all imports stayed.
He also said he would increase the tariff on Chinese goods to a huge 125%, making the total extra tax on some Chinese products 145%.
April 13
The U.S. allowed some exceptions: certain things like smartphones and computers imported mostly from China would not have to pay the big tariffs.
April 22
The government started checking if it was a threat to national security to import medicines and computer parts. They wanted to see if tariffs should be added to these too.
May 4
Trump put a 100% tax on all movies made outside the U.S. — meaning foreign movies would cost double.
May 9
Trump and the UK’s new Prime Minister Keir Starmer made a small trade deal. They kept the 10% tariffs on British goods but made it easier to sell some farm products and lowered taxes on British cars.
May 12
The U.S. and China agreed to a 90-day “truce” to reduce tariffs. The U.S. cut its extra taxes on Chinese goods from 145% down to 30%, and China lowered its taxes on U.S. goods from 125% to 10%.
May 13
The U.S. lowered tariffs on small packages from China valued up to $800, cutting the tax rate from 120% to 54%.
What Does This All Mean?
Tariffs make things from other countries more expensive. Trump’s changing tariffs made businesses and buyers nervous because prices and rules kept changing quickly. This timeline shows how fast and sometimes surprising trade rules can change, affecting money, jobs, and prices everywhere.
