On Monday, former U.S. President Donald Trump announced on Truth Social that 25% tariffs will be imposed on imports from Japan and South Korea, starting August 1. In letters to both nations’ leaders, he said these tariffs are separate from other sector-specific tariffs and are meant to reduce the U.S. trade deficit.
Trump warned that if Japan or South Korea retaliate with tariffs of their own, the U.S. will match their increases. However, he offered an alternative: companies from those countries can avoid the tariffs by manufacturing within the U.S., promising quick and smooth approval processes.
White House Press Secretary Karoline Leavitt added that Trump will sign an executive order to extend the pause on reciprocal tariffs until August 1, and similar letters will be sent to around 12 more countries, also to be posted on Truth Social.
Credit : CGTN
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