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Trump announced that he would impose a 25% tariff on Japan and South Korea starting August 1
Odaily News U.S. President Donald Trump announced that he would impose a 25% tariff on Japanese and South Korean goods imported into the U.S. from August 1. The move marks the beginning of the U.S. governments unilateral tariff policy against countries with which it has not yet reached a trade agreement. The two Asian countries became the first targets of the trade demand letters and agreements that the Trump administration promised to issue intensively on Monday. Trump has accelerated the reform of U.S. trade policy in his second term, which continues to bring uncertainty to markets, central bank officials and corporate executives. All parties are struggling to assess the impact of this policy on production, inventory, recruitment, inflation and consumer demand - even without this ever-changing tariff policy, regular business planning is not easy. According to the letter released by Trump, the tariff levels of Japan and South Korea are basically in line with his previous warnings. Trump initially imposed a 24% tariff on Japan and a 25% tariff on South Korea. After his so-called reciprocal tariff extension for 90 days, Trump reduced these tariffs to 10% to allow time for negotiations. (Jin Shi)
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