The U.S. has been embroiled in a trade war triggered by President Donald Trump’s imposition of tariffs on major trading partners like Mexico, Canada, and China. Trump’s aggressive tariff strategies, including hefty import taxes and back-and-forth threats, have created widespread uncertainty in global economies. The consequences of these tariffs are expected to impact businesses, economies, and consumers worldwide, with higher prices likely to be passed on to consumers. Trump’s first term in office saw a trade war with China, characterized by tit-for-tat levies on various goods, escalating tensions between the two countries.

Under President Joe Biden, most of Trump’s tariffs against China have been maintained, albeit with a more targeted approach. Biden implemented new restrictions on selling semiconductors to China, leading to retaliatory measures from China. The article outlines the timeline of tariff actions under both administrations, including promises of further tariff hikes during the 2024 presidential campaign.

Trump’s return to office in 2024 saw the continuation of his aggressive tariff policies, with plans to increase tariffs on various imports. The article details how Trump’s tariff decisions have impacted trade relationships with countries like Colombia, Mexico, and Canada, leading to retaliatory measures and trade disputes. The escalating trade tensions have raised concerns about the economic impact on the U.S. and global markets.