March 22, 2018
More Tariff Exemptions
Trump issues revised formal steel and aluminum tariff
proclamations, further exempting the European Union, South
Korea, Brazil, Argentina, and Australia—in addition to Canada and
Mexico as previously announced—but only through May 1, 2018.
March 23, 2018
Tariffs Go into Effect
Trump’s steel and aluminum tariffs go into effect with exemptions
for selected countries.
March 28, 2018
Korea Receives Permanent Exemption for Steel,
But Faces Quota
Korea agrees to reduce steel exports to the United States in return
for a permanent exemption from the steel tariff.
April 2, 2018
China Retaliates
China imposes retaliatory tariffs on aluminum waste and scrap,
pork, fruits and nuts, and other US products, worth $2.4 billion in
export value in 2017. This compares to the US steel and aluminum
tariffs covering Chinese exports worth $2.8 billion in 2017.
April 30, 2018
US Extends Tariff Exemptions
The Trump administration extends the steel and aluminum tariff
exemptions provided to the European Union, Canada, and Mexico
until June 1, 2018. Korea’s aluminum tariff exemption ends.
Argentina, Australia, and Brazil receive indefinite exemptions for
steel and aluminum tariffs while finalizing details on “satisfactory
alternative means to address the threatened impairment to the
national security” by the imports.
June 1, 2018
US Ends Tariff Exemptions for EU, Canada, and Mexico
The United States moves forward with 25 percent tariffs on steel
and 10 percent on aluminum for the European Union, Canada,
and Mexico by ending their previously granted exemptions
effective June 1. The three trading partners supplied almost half
of US steel and aluminum imports in 2017. As of June 1, Argentina
has quotas for steel and aluminum in return for permanent tariff
exemptions for both metals. Brazil has quotas on steel, with
differing amounts on semi-finished and finished steel products,
and a 10 percent tariff on aluminum. Australia remains the only
trading partner for steel and aluminum without trade restrictions.
June 22, 2018
EU Retaliates on Iconic American Goods
The European Union activates its previous tariff threat on the
United States, with an initial list covering $3.2 billion of US
products in 2017. Steel and aluminum make up 34 percent of
the affected products, while the rest are agricultural and food
products, and other consumer goods. Specific items include
bourbon whiskey, motor boats and yachts, motorcycles, blue
jeans, corn, and peanut butter. Harley-Davidson announced on
June 25 it was shifting additional motorcycle production outside
the United States to avoid the retaliatory tariffs.
July 1, 2018
Canada Strikes Back
Canada imposes tariffs on US products totaling $12.8 billion in
2017. Half of the targeted goods are steel and aluminum. American
agricultural and food products make up 19 percent, and 24 percent
are other consumer goods. Steel products face a 25 percent tariff,
while the remaining products are hit at a 10 percent rate.
July 16, 2018
Trump Administration Files WTO Challenges
The US Trade Representative files separate disputes at the World
Trade Organization against Canada, China, the European Union,
Mexico, and Turkey, challenging the tariffs each WTO member
imposed in response to President Trump’s aluminum and steel
trade actions meant to protect US national security interests.
Collectively, the five economies have retaliated with tariffs on US
exports worth $24 billion in 2017.
July 24, 2018
Subsidies for American Farmers After Export Fallout
The US administration announces it will subsidize American
farmers for up to $12 billion for their lost export sales resulting
from all of the president’s tariff actions (including other tariffs on
Chinese goods) using a law that supported farmers during the
Great Depression.
August 10, 2018
Higher Rates for Turkey
President Trump announces he will increase the steel tariff rate
imposed on Turkey from 25 percent to 50 percent in response
the depreciation of the Turkish lira. In a tweet, he also states that
the aluminum tariff rate for Turkey will be raised to 20 percent, up
from 10 percent.
August 14, 2018
Turkey Retaliates
Turkey announces new tariffs on imports from the United States,
including cars, alcohol, and tobacco, in response to President
Trump’s August 10 doubling of US tariffs on Turkish steel and
aluminum.
November 15, 2018
Steel Tariffs Have Hit Poor Countries the Hardest
In the first six months of steel tariffs, strong economic growth
actually increased US imports of steel by 2.2 percent, but small
and poor countries saw a 12 percent decline in steel export
volumes to the United States and 15.5 percent less revenue,
relative to the six months prior to the tariffs.
December 20, 2018
Steel Jobs Come at a High Cost
A PIIE study finds that Trump’s steel tariffs have raised the price
of steel products by almost 9 percent, creating 8,700 jobs in the
US steel industry. However, steel users pay an extra $650,000 for
each job created.
May 17, 2019
US Lifts Tariffs on Canada and Mexico
The United States agreed to remove steel and aluminum tariffs
on Canada and Mexico on May 21, a move that could boost the
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