The U.S. will impose tariffs on computer chips, pharmaceuticals, steel, aluminum, copper, oil and gas imports as soon as mid-February, President Trump said.

The introduction of 25% tariffs against its neighbors and 10% against Beijing, effective February 1, has been confirmed by the US president. He also announced sectoral tariffs and sanctions against the European Union.

If implemented, President Trump’s tariffs on Canada, China, and Mexico could upend U.S. trade. These nine charts show what’s at stake, what comes next, and why it matters.

Less than two weeks into his second term, President Trump may be poised to deploy steep tariffs against key U.S. trading partners.

Last Sunday, Mr Trump waged a 10-hour trade war with Gustavo Petro, the Colombian president, threatening the South American country with 25 per cent tariffs over its refusal of a migrant deportation flight. The crisis ended when Mr Petro agreed to accept the flights.

Exports to the US, on the other hand, accounted for 14.6% of China’s total exports in 2024; from a purely transactional perspective, it seems to make sense to restrict chemical exports to Mexico and Canada if that was a sufficient condition to avoid tariffs.