February 23 (Reuters) - Since taking office on January 20 of last year, U.S. President Donald Trump has made tariff decisions that have shocked financial markets and plunged the global economy into uncertainty.

The following is a timeline of key developments:

February 1, 2025 - Trump imposed tariffs of 25 percent on imports from Mexico, most imports from Canada, and 10 percent on goods coming from China, demanding that the three countries stop the flow of fentanyl and illegal immigration into the United States.

February 3, 2025 - Trump suspended tariffs on Mexico and Canada for 30 days in exchange for concessions on border enforcement and crime prevention. The United States did not reach a similar agreement with China.

February 10, 2025 - Trump raised tariffs on steel and aluminum to 25 percent.

March 3, 2025 - Trump said that tariffs of 25 percent on goods from Mexico and Canada would take effect the day after March 4, and increased tariffs related to fentanyl on all Chinese goods to 20 percent.

March 26, 2025 - Trump announces a 25 percent tariff on imported cars and light trucks.

April 2, 2025 - Trump announces a 10 percent global tariff on all imports and much higher tariffs on a number of countries.

April 9, 2025 - Trump suspends most of the tariffs he imposed on certain countries that had gone into effect less than 24 hours earlier. The overall 10 percent tariffs remain in place on almost all imports into the United States.

Trump announced he would raise tariffs on Chinese imports to 125 percent from the 104 percent that had gone into effect the previous day. This brought the total tariffs on Chinese goods to 145 percent.

May 9, 2025 - Trump and British Prime Minister Keir Starmer announced a limited bilateral trade agreement that would maintain 10 percent tariffs on British exports to the United States.

May 12, 2025 - The United States and China agreed to a temporary reduction in retaliatory tariffs. Under a 90-day truce, Washington would reduce its additional tariffs on Chinese imports to 30 percent, while China would reduce its tariffs on US imports to 10 percent from 125 percent.

May 29, 2025 - A federal appeals court temporarily reinstated the largest tariffs imposed by Trump, suspending a lower court ruling to consider the government's appeal.

June 3, 2025 - Trump signed an executive order increasing tariffs on steel and aluminum imports to 50 percent.

July 3, 2025 - Trump said the United States would impose tariffs of 20 percent on many imports from Vietnam, with shipments from third countries facing tariffs of 40 percent.

July 7, 2025 - Trump said the higher tariffs he had announced in previous months would take effect on August 1. He sent letters to 14 countries stating he would impose tariffs between 25 and 40 percent.

July 15, 2025 - Trump said the United States would impose a 19 percent tariff on goods imported from Indonesia under a new agreement.

July 22, 2025 - Trump struck a trade deal with Japan that would reduce tariffs on car imports to 15 percent.

July 30, 2025 - The United States reached an agreement with South Korea to reduce tariffs to 15 percent.

July 31, 2025 - Trump signed an executive order imposing tariffs of between 10 and 41 percent on 69 trading partners just before the deadline for reaching trade agreements. He also issued a separate order raising tariffs on Canadian goods.

August 6, 2025 - Trump imposed additional tariffs of 25 percent on goods imported from India, accusing it of directly or indirectly importing Russian oil.

August 7, 2025 - Trump's higher tariffs on imports from dozens of countries went into effect, prompting key trading partners such as Switzerland, Brazil and India to seek better deals.

August 11, 2025 - Trump extended the tariff truce with China for another 90 days, suspending the imposition of tariffs that exceeded 100 percent until November 10.

August 21, 2025 - The United States and the European Union concluded a framework trade agreement that sets tariffs at 15 percent on most imports.

September 30, 2025 - Trump imposed tariffs of 10 percent on lumber imports, and 25 percent on kitchen cabinets, bathroom vanities and upholstered furniture.

January 14, 2026 - Trump imposed a 25 percent tariff on a number of artificial intelligence chips, such as the Nvidia H200 AI processor and a similar connector chip from AMD.

January 17, 2026 - Trump threatened to impose a series of tariffs on eight European allies unless they allowed the United States to take control of Greenland. He backed down from his threats a few days later, following a meeting with NATO Secretary General Mark Rutte in Davos, Switzerland.

February 20, 2026 - The U.S. Supreme Court overturned tariffs imposed by Trump based on a law reserved for national emergencies.

On the same day, Trump announced a sweeping tariff of 10 percent. The following day, he raised this tariff to 15 percent, the maximum allowed under the separate, untested law on which the tariffs are based.

February 22, 2026 - The European Commission said it would not accept an increase in tariffs agreed upon under the bilateral trade agreement concluded last year.