In the first 50 days of his second term, President Trump’s penchant for imposing and then suspending tariffs has shaken markets and confounded trading partners.

On the very day he was inaugurated, Trump announced plans to impose 25% tariffs on Mexico and Canada. First, they were postponed for 30 days. Then, they went into effect on March 4, only for Trump to decide a couple of days later to halt tariffs on many imports from Canada and Mexico for one month.

Canada and Mexico A 25% import tariff on goods from Mexico and Canada took effect March 4, with an exception for energy products and potash, which received a 10% tariff. The next day, the Trump administration suspended those tariffs until April 2 for autos eligible for duty-free trade under the U.