Trump Imposes Tariffs on 68 Countries, EU

President Donald Trump has imposed new tariffs on imports from 68 countries and the European Union, with rates ranging from 10% to 41% and taking effect on August 7. The tariffs are part of a broader trade strategy aimed at reducing trade deficits and promoting U.S. manufacturing, targeting nations that have not reached favorable trade agreements. Specific increases include 35% on certain Canadian imports, 25% on India, 20% on Taiwan, and 30% on South Africa, while products under the US-Mexico-Canada Agreement are mostly exempt. The administration justifies the action on national security grounds and efforts to combat drug trafficking, particularly fentanyl from Canada and Mexico. Critics and some federal judges have challenged the president's authority to impose such tariffs without congressional approval, citing potential legal and economic problems. Economists caution that the tariffs could raise consumer prices, but the White House maintains that inflation has remained stable.