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

Times of IndiaSunday, July 13, 2025 at 4:21:59 AM
NegativeFinancial Marketstrade policy
Trade war explainer: Donald Trump threatens 20%–50% tariff on 23 nations along with EU, Mexico- check full list
Former President Donald Trump is shaking up global trade again, proposing hefty new tariffs of 20% to 50% on imports from 23 countries—including the EU and Mexico—unless they agree to individual trade deals by August 1. The EU and Mexico are pushing back, calling the move unfair but leaving the door open for talks. Trump’s reasoning? He claims it’s about trade deficits and stopping fentanyl, though data suggests most fentanyl doesn’t come from these trade partners.
Editor’s Note: If these tariffs happen, prices on everyday goods could jump, and trade tensions might escalate—something businesses and consumers won’t love. It’s a high-stakes gamble that could either force concessions from other countries or backfire, sparking retaliatory measures. Either way, it’s a story worth watching if you care about your wallet or the global economy.
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