Trump slaps 25% tariffs on Japan and South Korea—and Wall Street stumbles

• U.S. stock markets reacted negatively on Monday after President Trump announced via social media that he would unilaterally impose 25% trade tariffs on Japan and South Korea. The tariffs target two of America’s closest allies and key suppliers of autos, electronics, and steel.

President Donald Trump jolted global markets Monday with the announcement that the U.S. will impose a sweeping 25% tariff on all imports from Japan and South Korea beginning August 1. The move, delivered...