WASHINGTON, United States – President Donald Trump announced tariffs of 25 percent on Japan and South Korea on Monday, ramping up pressure on the two key US allies and a dozen other economies to
States – President Donald Trump announced tariffs of 25 percent on Japan and South Korea on Monday, ramping up pressure on the two key US allies and a dozen other economies to reach trade deals with Washington.
Trump issued similar letters to a dozen other trading partners including Indonesia, Bangladesh, Thailand, South Africa and Malaysia, saying he would slap duties on their products ranging from 25 percent to 40 percent.
But their starting date of August 1 marks a delay in Trump’s reimposition of steeper levies, originally due to take effect Wednesday.
In near-identically worded letters to Japanese and South Korean leaders, Trump said the tariff hikes came as their trading relationships with Washington were “unfortunately, far from Reciprocal.”
He warned of further escalation if countries retaliated against these duties.
Currently, the affected partners have been hit with a 10 percent levy Trump imposed on almost all trading partners.
But the president said he was ready to lower the new levels if others changed their trade policies: “We will, perhaps, consider an adjustment to this letter.”
Japan’s Prime Minister Shigeru Ishiba said Sunday that he “won’t easily compromise” in trade talks with Washington.
White House Press Secretary Karoline Leavitt told reporters Monday that Trump would sign an order later in the day to delay his original July 9 deadline for steeper tariffs to take effect — formally postponing their imposition to August 1.
