Trump's tariffs have launched global trade wars. Here's a timeline of how we got here [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
Trump is no stranger to tariffs. He launched a trade war during his first term, taking particular aim at China by putting taxes on most of its goods. Beijing responded with its own retaliatory tariffs on U.S. products ranging from fruit to automotive imports. Meanwhile, Trump also used the threat of more tariffs to force Canada and Mexico to renegotiate a North American trade pact, called the U.S.-Mexico-Canada Agreement, in 2020. When President Joe Biden took office, he preserved most of the tariffs Trump previously enacted against China, in addition to imposing some new restrictions — but his administration claimed to take a more targeted approach. Fast-forward to today, and economists stress there could be greater consequences on businesses and economies worldwide under Trump's more sweeping tariffs this time around — and that higher prices will likely leave consumers footing the bill. There's also been a sense of whiplash from Trump's back-and-forth tariff threats and responding
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