← Back to Home

Tariff Info

A tariff is a tax on imports at the border. While the importer pays it directly, the effects ripple through supply chains and can reshape prices, trade flows, and industries.

Quick Facts:

  • Tariffs can protect domestic producers but often raise consumer prices.
  • U.S. policy has swung between protectionism and liberalization.
  • Recent actions concentrate on EVs, semiconductors, batteries, and solar.

U.S. Tariff Timeline (1900–2025)

  1. 1930
    Smoot–Hawley Tariff Act

    Raised duties on 20,000+ imports to shield domestic producers. Retaliation followed and world trade contracted during the Great Depression.

  2. 1947
    GATT Established

    Post-WWII liberalization begins. Multilateral rounds steadily cut average tariffs on industrial goods.

  3. 1962
    Trade Expansion Act

    Enabled Kennedy Round tariff cuts (~35% on many industrial products). Created Section 232 (national-security tariffs authority).

  4. 1994
    NAFTA

    Phased out most tariffs among the U.S., Canada, and Mexico, deepening integrated supply chains.

  5. 2001
    China Joins the WTO

    U.S. imports from China surged; debates intensify over import competition and adjustment policy.

  6. 2018–2021
    U.S.–China Trade War

    Steel & aluminum (232) plus broad Section 301 duties on Chinese goods; retaliation and supply-chain rerouting. Many duties remained.

  7. 2020
    Phase One Deal

    Purchase commitments and IP provisions; most tariffs stayed in place and compliance was uneven.

  8. 2022
    Tech Focus & CHIPS Act

    Targeted duties on EVs, solar panels, semiconductors; CHIPS Act invests to rebuild domestic fabrication.

  9. May 2024
    Targeted Section 301 Hikes (China)

    Higher rates announced for strategic categories: EVs (very high effective rates), semiconductors (phased up), batteries/parts, solar inputs, critical minerals.

  10. September 2024
    Implementation Milestone

    First wave of increased duties takes effect (EVs, certain batteries, solar cells/inputs, selected metals), with further phase-ins scheduled.

  11. Early 2025
    North American Flare-ups

    Broader U.S. tariffs on selected Canadian and Mexican goods prompt swift retaliation; some exemptions/adjustments follow.

  12. April 2025
    “Liberation Day” Tariffs

    Baseline and reciprocal tariffs invoked under emergency authorities; higher rates for targeted sectors; immediate legal and diplomatic pushback.

  13. Mid–Late 2025
    Semiconductor & Clean-Tech Focus

    Section 232 probes consider chip import risks. Clean-tech inputs (e.g., solar wafers/polysilicon, tungsten) see higher rates; courts review emergency tariff powers.

Back to Home