U.S. President Donald Trump announced on Monday that he will impose a 25% tariff on imports from Japan and South Korea beginning August 1. The announcement was made on his social media platform, Truth Social.
In letters addressed to South Korean President Yoon Suk-yeol and Japanese Prime Minister Fumio Kishida, Trump stated that the new tariffs will be separate from all other sectoral tariffs. The nearly identical letters emphasized the trade deficits the United States has with both countries.
“Please understand that the 25% number is far less than what is needed to eliminate the trade deficit disparity we have with your country,” Trump wrote.
He warned that if the two nations retaliate by increasing their tariffs, the United States would respond by raising its tariffs by the same amount.
“As you are aware, there will be no tariff if Korea, or companies within your country, decide to build or manufacture products within the United States, and, in fact, we will do everything possible to get approvals quickly, professionally, and routinely. In other words, in a matter of weeks,” Trump added.
White House Press Secretary Karoline Leavitt confirmed that Trump plans to issue an executive order to extend the pause on “reciprocal tariffs” from July 9 to August 1. She noted that about a dozen more nations would receive similar notifications, which would also be posted on Truth Social.
The move marks a significant escalation in trade tensions and could have widespread implications for international trade relations.
