Trump to put 25% tariffs on Japan and South Korea
Trump to put 25% tariffs on Japan and South KoreaJOSH BOAKMon, July 7, 2025 at 4:40 PM UTC1 min read
FILE - Shoppers shop electric rice cookers imported from Japan and Korea at the H Mart in Niles, Ill., April 3, 2025. (AP Photo/Nam Y. Huh, File)
FILE - Tokyo Tower is seen amid tall buildings as a container ship leaves a cargo terminal in Tokyo, April 9, 2025. (AP Photo/Hiro Komae, File)
Trump Tariffs1 of 2FILE - Shoppers shop electric rice cookers imported from Japan and Korea at the H Mart in Niles, Ill., April 3, 2025. (AP Photo/Nam Y. Huh, File)
WASHINGTON (AP) — President Donald Trump on Monday placed a 25% tax on goods imported from Japan and South Korea, citing persistent trade imbalances with the two crucial U.S. allies in Asia.
Trump provided notice of the tariffs to begin on Aug. 1 by posting letters on Truth Social that were addressed to the leaders of both countries. The letters warned both countries to not retaliate by increasing their own import taxes, or else the Trump administration would increase import taxes that could damage the auto and electronics sectors of Japan and South Korea, two crucial partners for the U.S. in countering China's influence.
“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 wrote in the letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung.
Advertisement - About Our Ads
Source: AOL Money
