If the US genuinely tries to close its overall deficit with big tariffs all round, it will cause a crunching recession. If Trump discriminates between trading partners, the heavily tariffed ones can nip through the side door of those who escaped more lightly.

Donald Trump’s tariffs are a headache for all his trade partners. But the U.S. president’s plan to impose ad hoc “reciprocal” levies on imports are a particular problem for the European Union. By enabling him to target whichever countries in the bloc he pleases,

Here’s what you need to know about reciprocal tariffs and who might be impacted by Trump’s plan. Reciprocal tariffs refer to tariffs—the taxes charged on imported goods—the U.S. government plans to levy against global trading partners that are equal to the existing tariffs foreign countries have set against American goods.