We’re monitoring the tariff timeline to help you understand how recently imposed policies may impact your business.
There have been a number of challenges in 2025 for small and midsize businesses, particularly with the impact of tariffs and supply chains. And, it can be hard to keep track of the specifics of what’s happened and what’s on the horizon.
Below is a timeline that tracks the key impactful moments for trade and tariffs since the start of the year. We will be updating this continuously, with resources to help you find the information you need. Bookmark it if you’d like easy access for future review.
Key takeaways:
- A universal 10% tariff is likely here to stay. The tariff on China will likely be higher, but how high it will stay is yet to be determined.
- Much of Congress’s near-term focus is the proposed GOP reconciliation package, which the party would like to use to extend the 2017 Tax Cuts and Jobs Act and achieve some key Trump administration policy goals.
- The reconciliation package is likely to consume Congress through at least July 4, with tariff pauses and negotiations ongoing during this time.
- Ongoing legal challenges to President Trump’s tariffs may cause additional uncertainty and delay US trade agreements with individual countries.
Sometime in August:
The U.S. government will reach the debt limit on what’s called the “X” date. Tariff revenue may impact this date and put pressure on the White House to move on tariffs, absent deals.
August 12:
The 90-day suspension of increased tariffs between the U.S. and China, which began on May 12, is set to end. If no further agreements are reached, the U.S. could increase tariffs on Chinese goods, and China could retaliate with tariffs on American products.
July 14:
The European Union’s (EU) 90-day pause on retaliatory tariffs against the U.S. will expire. The EU could then implement tariffs on a wide range of American goods, including wine and whiskey, cars, aircraft, and agricultural products.
July 8:
The 90-day pause on reciprocal tariffs, implemented by the Trump administration, is set to expire. If trade negotiations are unsuccessful, this could lead to the reinstatement of higher tariffs on goods from numerous countries.
May 29:
The U.S. Court of International Trade rules Trump could not use a 50-year-old statute's emergency powers to impose global tariffs. An immediate appeal by the administration keeps the tariffs in place while litigationcontinues.
May 12:
The U.S. and China agree to 90-day suspension and tariff reduction. U.S. tariffs on Chinese goods are lowered to 30%. China lowers tariffs on American products from 10%.
May 8:
The White House announces a UK tariff deal.
April 9:
Trump’s higher reciprocal rates go into effect just after midnight. Hours later, his administration says it will suspend most of these higher rates for 90 days but maintain a 10% levy on nearly all global imports. China is the exception.
April 5:
Trump’s 10% minimum tariff takes effect.
April 2:
Trump announces reciprocal tariffs of a 10% baseline tax and higher rates for dozens of nations.
March 12:
Trump’s 25% tariffs on steel and aluminum imports go into effect.
March 10:
China’s retaliatory 15% tariffs on key American farm products, including chicken, pork, soybeans, and beef, take effect.
March 6:
Trump postpones 25% tariffs on many imports from Mexico and some imports from Canada for a month.
March 5:
Trump grants a one-month tariff exemption for U.S. automakers on goods from Mexico and Canada.
March 4:
Trump’s 25% tariffs on imports from Canada and Mexico go into effect, with a 10% limit on Canadian energy. Trump doubles the tariff on all Chinese imports to 20%.
February 13:
Trump announces a reciprocal tariff plan on imports “for purposes of fairness.”
February 4:
Trump’s 10% tariffs on all Chinese imports go into effect. China retaliates with sweeping new duties on a variety of American goods.
February 3:
Trump agrees to a 30-day pause on his tariff threats against Mexico and Canada.
February 1:
Trump signs an executive order for a 10% tariff on all imports from China and 25% on imports from Mexico and Canada, to begin February 4.
January 20:
Donald Trump is sworn in as the 47th president of the United States. In his inaugural address, he reiterates his promise to “tariff and tax foreign countries to enrich our citizens.
What do business decision makers like you think of employee retention, economic conditions, and more? See the latest from the Principal® Business Owner Insights to find out.
