User:Satkara/Second Trump tariffs

Key events

January 20, 2025: Trump is inaugurated. During his inaugural address, he pledges to "immediately begin the overhaul of our trade system to protect American workers and families. Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens."^[1]
February 1, 2025: Trump declares "national emergencies" regarding drug trafficking, particularly fentanyl, and orders 25% tariffs on goods from Mexico and Canada and 10% on goods from China. Tariffs on most Mexican and Canadian goods are quickly suspended,^[2] but the "fentanyl tariff" on China increases to 20% on March 4.^[3]
February 13, 2025: Trump announces plans to impose "reciprocal tariffs" on every country to counteract their trade barriers.^[4] Many countries attempt to negotiate, but none receive exemptions.^[5]
March 12, 2025: Trump imposes a 25% tariff on imported steel and aluminum products.^[6]
April 2, 2025: On a day he dubs "Liberation Day", Trump announces a 10% "reciprocal tariff" on goods from nearly all countries which begin April 5. Global stock markets drop sharply.^[7]
April 3, 2025: 25% tariffs on imported automobiles take effect.
April 9, 2025: Increased "reciprocal tariff" rates of 11%-50% go into effect on 57 trade partners. A few hours later, Trump halted these increases for 90 days, triggering a reversal in stock markets.^[8] Journalists report Treasury Secretary Scott Bessent plays a key role in convincing Trump to delay and calm the markets, while tariff advocate Peter Navarro is sidelined as an advisor.^[9]^[10]
April 11, 2025: After a tit-for-tat escalation, American tariffs on Chinese goods increase to 145% and Chinese tariffs on American goods increase to 125%.^[11] Both countries exempt a variety of goods in the following weeks.^[12] The White House attempts to negotiate trade deals with several countries, prioritizing ones strategic to countering China.^[13]

The tariffs enacted so far include a 10% universal import tariff on all goods brought into the United States and a 25% tariff on all imported steel, aluminum, and automobiles.

https://archive.ph/zGV0m - tiktok deal

https://archive.ph/CojEQ - american opinions change

https://carnegieendowment.org/research/2024/05/time-to-reset-the-us-trade-agenda?lang=en - carnegie endowment

Trump sued: https://thehill.com/homenews/5231388-trump-sued-over-china-tariffs/

Canada will match US auto tariffs https://apnews.com/article/canada-prime-minister-trump-trade-war-autos-d15ae5b0bab873450b86ca524afda3ca

AI bots and formula https://www.theverge.com/news/642620/trump-tariffs-formula-ai-chatgpt-gemini-claude-grok

Mexico free trade https://archive.ph/2lavz

$\Delta \tau _{i}={\frac {x_{i}-m_{i}}{\varepsilon \cdot \varphi \cdot m_{i}}}$ , where ${x_{i}}$ = US exports to a given country, ${m_{i}}$ = imports from that country, ${\varepsilon }$ = elasticity of imports, and $\varphi$ = "tariff passthrough".

USTR estimated the value of ${\varepsilon }$ as 4 and $\varphi$ , as 0.25. 4 × .25 = 1, so the formula can be rewritten as: ${\frac {exports-imports}{imports}}$