07/07/2025

Trump Unveils 25 Percent Tariffs on Goods from Japan, South Korea

The new taxes will begin August 1

President Donald Trump said on Monday the U.S. would impose a 25 percent tariff on imports from Japan and South Korea beginning August 1 as he unveiled the first two of what he has said will be a wave of letters to trading partners outlining the new levies they face.

"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 percent that we charge," Trump said in letters to the leaders of the two Asian countries, which he posted on his Truth Social platform.*

The rate for South Korea is the same that Trump initially announced on April 2, while the rate for Japan is 1 point higher than first announced. Trump a week later capped all of the so-called reciprocal tariffs at 10 percent until July 9 to allow for negotiations. Thus far, only two agreements have so far been reached, with Britain and Vietnam.

Please select this link to read the complete article from Reuters.

*Grammatical errors related to capitalization and punctuation were not rectified by OSAP.