Trade war explainer: Donald Trump threatens 20%–50% tariff on 23 nations along with EU, Mexico- check full list

Donald Trump has threatened major trade partners with new import tariffs, ranging from 20% to 50%, demanding individual trade deals by August 1. The EU and Mexico have condemned the proposed tariffs as unfair, while expressing willingness to negotiate. Trump cites trade deficits and fentanyl concerns as justification, despite data showing most fentanyl enters the US from Mexico.