Futures contracts hit a record price after the president announced plans for a 50 percent tariff on the metal, driving up costs for businesses.

U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.Here is a timeline of the major developments:February 1 - Trump imposes 25% tariffs on Mexican and most Canadian imports and 10% on goods from China,

Trump’s renewed tariff threats hit some of the closest U.S. allies. Japanese Prime Minister Shigeru Ishiba described the developments as “deeply regrettable.”