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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPresident 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.
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