A timeline of key tariff-related events
Steep new United States tariffs on Canada, Mexico and China announced.
February 3rd:
Mexico, Canada tariffs placed on hold for 30 days.
February 4th:
Tariffs on China take effect, Beijing reveals retaliatory package.
February 10th:
US sets 25 per cent tariffs on aluminium and steel imports – expected to take effect March 12th.
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March 4th:
Delayed 25 per cent US tariffs on Mexico and Canada take effect, US announces additional 10 per cent levy on Chinese imports. Canada announces retaliatory package: 25 per cent tariffs on $155 billion (€133 billion) worth of imported goods, including an immediate list of goods worth $30 billion.
March 6th:
New executive orders backtrack on sweeping 25 per cent tariffs on Mexico and Canada.
March 11th:
The US announces an additional 25 per cent tariff on steel and aluminium imports from Canada, which retaliates with new tariffs on almost $21 billion of US goods.
March 24th:
The US announces tariffs against countries that buy Venezuelan oil.
March 26th:
US president Donald Trump
announces the US will impose tariffs of 25 per cent on foreign-made car imports. Other nations plan reprisals.
April 2nd:
Trump announces the US will impose tariffs ranging from 10 to 50 per cent on 185 countries. A universal 10 per cent tariff on all countries will start on April 5th, while other tariffs will begin on April 9th. Trump also announced that the 25 per cent tariff on foreign-made car imports will begin at midnight on April 3rd.
April 4th:
China announces 34 per cent retaliatory tariffs.
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April 8th:
White House confirms plans to proceed with another 50 per cent tariff on Chinese goods with effect from Wednesday, April 9th.
April 9th:
China announces additional retaliatory tariff of 50 per cent on US imports. Trump announces an increase of the US tariff rate on China to as high as 145 per cent and a 90-day pause on other countries, during which their tariff rates will be reduced to the baseline 10 per cent.
April 11th:
China increases retaliatory tariffs on US imports to 125 per cent. The Trump administration announces that it will exempt smartphones and other consumer electronics from its steep reciprocal tariffs – but the president later signals that this reprieve would only be temporary.
April 29th:
Trump executive order offers car manufacturers some relief from tariffs.
May 8th:
First deal of trade war sees cuts to punitive tariffs on British car and steel exports but keeps 10 per cent American levies on other exports.
May 12th:
China and the US agree to lower tariffs for the next 90 days.
May 25th:
Trump agrees to delay a threatened 50 per cent tariffs on the European Union and extend trade negotiations until July 9th, after a conversation with European Commission president Ursula von der Leyen.
May 28th:
US trade court says Trump's global tariffs are illegal.
May 30th:
Trump says he will double steel and aluminium tariffs to 50 per cent with the new levies set to take effect from June 4th.
July 2nd:
Trump announces a trade deal with Vietnam, with US imports from the Asian country subject to a 20 per cent levy.
July 7th:
White House extends deadline for 'reciprocal' tariffs from July 9th to August 1st.
July 10th:
Trump sets a tariff on copper of 50 per cent, effective August 1st, and threatens a 200 per cent levy on pharmaceuticals.
July 12th:
Trump announces a 30 per cent tariff on Mexico and the EU, effective August 1st.
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The Journal
25 minutes ago
- The Journal
Case of Irish tourist detained in US after outstaying visa by three days 'disgraceful'
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Speaking to The Journal , O'Dwyer said he was 'not surprised' to hear about the case. 'This is not unusual for what has basically become a very cruel way of enforcing the law in the United States right now,' he said. Since he came into office, US President Donald Trump has been pouring resources into arresting and deporting undocumented immigrants as he aims to carry out the immigration purge that was promised during his presidential campaign. Today, the Washington Post is reporting that immigrants who arrive in the US without documents will no longer be eligible for bond hearings and will be detained for the duration of their removal proceedings, which can take months or years. 'They are ratcheting it up so that they can keep people in detention for as long as they want and and that's as frightening as as can be,' O'Dwyer said. The man who spoke to The Guardian is the latest Irish person to be detained by US immigration officials in recent months. Last month, a Donegal man who had lived in Boston for more than 15 years was deported to Ireland less than a month after he was detained for violating his visa waiver. The man, who is the father to two American-born children, had joined the waiting list for green card applications three years ago . In April, Irish woman Cliona Ward, who has been a legal resident of California for 30 years, was detained by ICE for three weeks after returning from a trip to Ireland to visit her sick father. 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He said the case is somewhat unusual given it involved a tourist, which is something he said he has not seen as yet amid the ICE raids and detentions. But he said it was still unsurprising that it happened. 'There is a marked decrease in the number of Irish coming to the United States,' he said. Figures published earlier this year showed tourism from Ireland to the US was down 27% in March. 'Something like this, of course, will only heighten the decrease in tourism. We've also seen a huge decline in J1 visas as well, because people were just not going to put up with this type of stuff,' O'Dwyer said. Asked what advice he would give to Irish people thinking of travelling to the US, he said: 'I'd be very careful. 'Unless they were 100% sure that their papers were in order, I wouldn't come.' Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
RTÉ News
42 minutes ago
- RTÉ News
US consumer prices increase as expected in June
US consumer prices picked up in June, likely marking the start of a long-anticipated tariff-induced increase in inflation that has kept the Federal Reserve cautious about resuming its interest rate cuts. The US Consumer Price Index increased 0.3% last month after edging up 0.1% in May, the Labor Department's Bureau of Labor Statistics said today. That was the largest gain since January. In the 12 months to June, the CPI advanced 2.7% after rising 2.4% in May. Economists polled Reuters had forecast the CPI would climb 0.3% and increase 2.6% on a year-over-year basis. Inflation readings came in on the low side in February to May, leading to demands by President Donald Trump for the US Federal Reserve to lower borrowing costs. Economists said inflation has been slow to respond to the sweeping import duties Trump announced in April because businesses were still selling stock accumulated before the tariffs came into effect. Trump last week announced higher tariffs would come into effect on August 1 for imports from a range of countries, including Mexico, Japan, Canada and Brazil, and the European Union effective August 1, raising the effective tariffs rate. Economists expect higher goods prices to prevail through the summer. Excluding the volatile food and energy components, the CPI rose 0.2% in June after edging up 0.1% in the prior month. In the 12 months to June, core CPI inflation increased 2.9% after rising 2.8% for three months in a row. Strong price increases for goods, however, could be somewhat offset by moderate rises in services costs, and ease concerns of a broad-based rise in inflationary pressures. Soft demand has limited price increases for services-related categories like air fares as well as hotel and motel rooms. The Fed tracks different inflation measures for its 2% target and it is expected to leave its benchmark overnight interest rate in the 4.25%-4.5% range at a policy meeting later this month. Minutes of the central bank's June 17-18 meeting, which were published last week, showed only "a couple" of officials said they felt rates could fall as soon as the July 29-30 meeting. Goldman Sachs is forecasting monthly core CPI inflation increases of between 0.3%-0.4% over the next few months, reflecting tariff-related increases in the prices of consumer electronics, autos and apparel. The investment bank expects limited near-term impact on core services inflation.
Irish Times
an hour ago
- Irish Times
Financial and healthcare stocks drag down European shares
European shares ended lower on Tuesday, dragged down by heavyweight financial and healthcare stocks as investors awaited news on a potential US-EU trade deal while assessing the latest US inflation data. DUBLIN The Iseq All-Share index ended the session narrowly in the black, up 0.06 per cent at 11,262.29, on Tuesday. Hotel group Dalata closed down 2.6 per cent to €6.37 after a Scandinavian consortium reached an agreement to buy the business for €1.4 billion. READ MORE Permanent TSB was 1.91 per cent weaker on €2.05 after news broke early in the day that NatWest Group had sold its remaining 11.65 per cent shareholding in the bank, raising €126 million. Ryanair also fell, giving up 0.88 per cent to €23.57 on the day, alongside healthcare services group Uniphar which dropped 1.08 per cent, continuing losses from yesterday. Irish Ferries brand owner Irish Continental Group was the strongest performer on the index, closing up 1.44 per cent to €5.64. Gains by bankers kept the market in the green, with AIB rising 1.19 per cent and Bank of Ireland adding 1.25 per cent. LONDON The FTSE 100 retreated from record highs as rising US inflation raised concerns about the impact of tariffs. Investors also focused on the Bank of England's monetary policy path. The blue-chip FTSE 100 dropped 0.7 per cent to 8,938.32, having crossed the 9,000 mark for the first time earlier in the day, while the domestically oriented FTSE 250 index fell 0.2 per cent. British stocks have largely shrugged off concerns about chaotic US trade policies, with the UK being the first country to secure a trade deal with the United States. Among individual stocks, GSK fell 1.5 per cent after the US Food and Drug Administration raised safety concerns that the drugmaker's blood cancer drug Blenrep, when used in combination with other treatments, may cause eye damage in patients. Experian rose 4.3 per cent after the credit data firm reported 8 per cent organic revenue growth in its first quarter and reaffirmed its annual forecasts. Britain's largest home builder Barratt Redrow slumped 8.9 per cent after it said home completions missed expectations for fiscal 2025. EUROPE The pan-European STOXX 600 index fell 0.36 per cent. Several big European defence stocks were weaker after US President Donald Trump threatened to impose stiff economic penalties on Russia if it doesn't end hostilities with Ukraine within 50 days. The threat came as he pledged fresh weapons supplies for Kyiv. Rheinmetall dropped 2.77 per cent and Dassault Aviation fell 2.47 per cent. In the euro zone, the banking index slipped 1.1 per cent. Germany's Commerzbank, Italy's Banco BPM and France's Société Générale each fell more than 2 per cent Healthcare also lagged, with Danish drugmaker Novo Nordisk sliding 2.3 per cent. Ericsson reported upbeat results but the Swedish telecom equipment maker's shares declined 7.7 per cent after it warned that tariffs could crimp its margin growth. Danish offshore wind developer Orsted gained 8.3 per cent after Morgan Stanley raised its rating to 'overweight' from 'equal weight'. Accelleron rose 8.7 per cent to a record high after the engine components maker increased its revenue forecast for 2025. NEW YORK The Nasdaq cruised to a fresh record high in midafternoon trading on Tuesday, powered by a jump in Nvidia, while the S&P 500 hovered below its peak as investors digested an inflation report and a flurry of big bank earnings. AI-chip leader Nvidia was higher after unveiling plans to resume sales of its H20 AI chip to China. Other chipmakers also advanced, including Advanced Micro Devices and Super Micro Computer. The gains led the technology sector to a record high. JPMorgan Chase slipped despite raising its 2025 net interest income outlook, while Wells Fargo fell even as its profit rose on reduced loan-loss reserves. BlackRock notched a new milestone, managing a record $12.53 trillion in assets amid optimism over trade deals and rate cuts, yet its shares were also weaker. The KBW Bank Index sank to a two-week low, but Citigroup bucked the trend by climbing after its traders delivered a windfall that boosted second-quarter profits. – Additional reporting, Reuters, PA.
