Trump sets 25% tariffs on imports from Japan and South Korea

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 further increase tariffs.

“If for any reason you decide to raise your Tariffs...