Trump Imposes Tariffs on Japan, South Korea, and Other Nations

President Donald Trump has declared the imposition of 25 percent tariffs on goods from Japan and South Korea. This action intensifies pressure on these key allies of the United States, along with a dozen other economies, to negotiate trade agreements with Washington.

Trump also dispatched similar notices to South Africa, Malaysia, Myanmar, Laos, and Kazakhstan, indicating that he intends to levy duties on their exports, varying from 25 percent to 40 percent.

Over the weekend, the President stated his intention to dispatch the initial series of letters, commencing Monday, to countries informing them of the reinstatement of substantial levies that had been previously deferred in April.

In virtually identical letters addressed to the leaders of Japan and South Korea, Trump asserted that the increased tariffs were a consequence of their trade relations with Washington being “unfortunately, far from Reciprocal.”

The tariffs detailed in Trump’s recent correspondence are scheduled to go into effect on August 1. He cautioned that further escalation would ensue if the affected nations responded to the duties with retaliatory measures.

Currently, the nations involved are subject to a 10 percent duty imposed by Trump on the majority of trading partners.

However, Trump conveyed his willingness to reduce the newly established levels if countries revised their trade policies: “We will, perhaps, consider an adjustment to this letter.”

Japan’s Prime Minister, Shigeru Ishiba, stated on Sunday that he “won’t easily compromise” during trade discussions with Washington.

White House Press Secretary Karoline Leavitt informed reporters on Monday that Trump would formally sign an order later that day to postpone his initial July 9 deadline for the implementation of steeper tariffs, thereby delaying their enactment until August 1.

She further mentioned that, in addition to Japan and South Korea, approximately 12 other partners would soon receive letters from Trump.

With the extension of the deadline, Leavitt pointed out that Trump would specify the “reciprocal tariff rate” for partners in the upcoming month as negotiations proceed.

Trump initially revealed extensive tariffs on global economies on what he termed “Liberation Day” on April 2, asserting that the United States was being “ripped off.”

In response to market instability, he subsequently suspended the initial tariffs for a duration of 90 days, a deadline that would have expired on Wednesday without the most recent extension.