Throughout his presidential campaign, Donald Trump prominently championed the implementation of tariffs as a core policy promise. This stance continued into his tenure, shaping much of his trade strategy. However, after more than five months in office, many of his tariff initiatives have yet to materialize fully.
While Trump has enacted several broad tariffs that have significantly increased costs for American businesses and consumers purchasing imported goods, he has also issued numerous threats of tariffs that remain unfulfilled. This pattern has fostered an environment of economic unpredictability, prompting some companies to delay hiring and investment decisions, and causing fluctuations in the stock market. Some financial analysts have dubbed this pattern the “TACO” approach-an acronym for “Trump Always Chickens Out”-highlighting the frequent back-and-forth nature of his tariff policies. When questioned about this label, Trump dismissed it as “nasty,” asserting, “It’s called negotiation.”
Below are ten notable instances where Trump has threatened to impose tariffs but later withdrew or postponed them. In some cases, such as negotiations with Colombia, the threats prompted policy concessions, but in others, the threats dissipated without tangible results.
Reevaluating Transatlantic Trade: EU Tariff Threats
One of the most recent examples involves Trump’s threat to impose a 50% tariff on European Union imports, accusing EU nations of not engaging earnestly in ongoing trade negotiations. Initially, he announced that the tariff would take effect on June 1. However, shortly thereafter, he postponed the implementation until July 9, citing a conversation with EU Commission President Ursula von der Leyen, who reportedly requested the delay.
Earlier, Trump had threatened Europe with a 20% tariff as part of his “reciprocal” tariff strategy launched on April 2. Yet, just hours before these tariffs were set to go into effect, he reduced the rate to 10% for 90 days, aiming to negotiate specific trade agreements. The current tariff rate on European imports remains at 10%, reflecting a pattern of fluctuating threats and concessions.
Tariffs on European Wine and Whiskey
In a notable escalation, Trump announced on social media on March 13 that he would impose a 200% tariff on European wines, retaliating against EU threats to impose a 50% tariff on American whiskey. This tit-for-tat was part of broader tensions stemming from earlier tariffs on European steel and aluminum. However, European officials responded swiftly, announcing a delay in their whiskey tariffs pending negotiations. Ultimately, no tariffs on European wines were enacted beyond the existing 10% import duty, and the wine tariff threat was withdrawn.
Trade Disputes with North American Neighbors
Early in his presidency, Trump targeted Canada and Mexico with a 25% tariff on imports, citing insufficient efforts to curb the flow of fentanyl across borders. These tariffs prompted retaliatory measures from both nations, including boycotts of American products. Trump initially announced a 30-day pause, citing border security measures taken by Canada and Mexico. However, the tariffs were reinstated and adjusted multiple times, with Trump ultimately delaying or suspending them on several occasions. As of now, most tariffs under the North American trade agreement (USMCA) remain lifted, maintaining a relatively stable trade relationship.
Proposed Tariffs on Imported Films
On May 4, Trump tweeted that his administration was considering a 100% tariff on all movies imported into the U.S. from foreign countries. The announcement lacked specifics regarding timing or implementation. Later, the White House clarified that no final decision had been made, and officials were exploring options. Trump expressed interest in consulting with industry stakeholders to gauge their support, but no action has been taken since the initial statement.
Reciprocal Tariffs and Trade Negotiations
Trump introduced a series of reciprocal tariffs targeting nearly 100 countries, branding the effort as “liberation day”-a symbolic moment meant to mark a new era of American economic independence. These tariffs ranged from 10% to as high as 49%. However, on April 9, just before they were scheduled to take effect, Trump announced a pause until July 2 to allow for bilateral negotiations. During this period, he also implemented a blanket 10% tariff on most countries. Since then, only limited trade agreements, such as the one with the United Kingdom, have been finalized, and legal challenges have questioned the president’s authority to impose such tariffs.
Tariffs Targeting China
One of Trump’s most persistent trade threats involved China, which he accused of unfair trade practices and intellectual property theft. Over several months, tariffs on Chinese goods increased dramatically, reaching over 145% in April, which caused many U.S. companies to halt shipments and reconsider future orders. In a strategic move, Trump announced a reduction of tariffs to 10% for 90 days to facilitate negotiations, while maintaining a 20% tariff on fentanyl precursors. However, a court ruling recently invalidated these tariffs, though legal appeals are ongoing, leaving the tariffs in limbo.
Tariff Reductions on Consumer Electronics
Following the escalation of tariffs on China, Trump carved out an exception for certain electronics, including iPhones, reducing tariffs to 20%. Despite this, he has continued to push for manufacturing of iPhones and other electronics within the United States. Recently, he announced plans to impose a 25% tariff on all smartphones, regardless of their country of origin, starting at the end of June. Officials have indicated that Trump’s focus is on encouraging domestic production of chips and critical components, rather than targeting consumer devices directly.
Trade Tensions with Colombia
Early in his presidency, Trump engaged in a brief trade dispute with Colombia. After Colombia’s president blocked U.S. military aircraft carrying migrants, Trump threatened a 25% tariff on Colombian exports. Colombia responded with its own tariffs on U.S. goods, but both countries quickly backed down after Colombia agreed to allow the flights. This episode exemplifies how tariff threats can sometimes be used as leverage to influence diplomatic issues.
Tariffs on Toys and Consumer Goods
Trump also threatened to impose a 100% tariff on toys manufactured by companies like Mattel if they moved production out of China without relocating to the U.S. He suggested that higher prices due to tariffs could reduce toy sales in America, especially for children. More recently, Trump has emphasized a shift toward bringing manufacturing back to the U.S. for strategic reasons, such as national security, rather than solely focusing on consumer goods like apparel or toys.
Auto Industry Tariffs and Trade Negotiations
On April 3, Trump announced a 25% tariff on all imported vehicles not assembled in the U.S., which could impact nearly half of all cars sold domestically. Subsequently, he signed an executive order to ease some of these tariffs, citing concerns over rising vehicle prices. Negotiations with the U.K. continue, with plans to reduce tariffs on British-made vehicles like Land Rovers and Aston Martins to 10%, pending a broader trade agreement.
