US President Donald Trump has declared a 25% tariff on imports from Japan and South Korea starting August 1, urging both nations to shift production to the US and warning of further tariff hikes if retaliatory measures are taken.
US President Donald Trump on Monday announced that the United States will impose a 25% tariff on goods imported from Japan and South Korea, effective August 1. The decision was made public through official letters posted on social media, addressed to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung.
Trump cited long-standing imbalances in trade relations, stating, “Our relationship has been, unfortunately, far from Reciprocal,” indicating dissatisfaction with current tariff structures. He urged both countries to consider relocating production facilities to the US to avoid the new import duties.
The president said the 25% tariff is already lower than what he deems necessary to fully offset the US trade deficit with Japan and South Korea. Additionally, he issued a warning that should either country respond with retaliatory tariffs, the US would increase its rate accordingly: “If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25% that we charge.”
Trump had earlier indicated that he would begin notifying countries of specific tariff rates this week, ahead of a self-imposed Wednesday deadline to finalise new trade deals or face broader duties.
US Treasury Secretary Scott Bessent told CNBC that Washington is preparing several trade announcements within the next two days, as other nations rush to negotiate ahead of the expected reintroduction of tariffs on July 9. “We’ve had a lot of people change their tune in terms of negotiations,” Bessent remarked, adding that the coming days would be “busy.”
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Thousands of users in the United States, some parts of Europe and South America on the X (formerly twitter) platform have reported being unable to access the site due to Cloudflare outage.
Thousands of users in the United States, some parts of Europe and South America on the X (formerly twitter) platform have reported being unable to access the site due to Cloudflare outage.
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