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US Imposes 25% Tariffs on Japan and South Korea, Trump Cites Trade Imbalances
US Imposes 25% Tariffs on Japan and South Korea, Trump Cites Trade Imbalances
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BTCCSquare news:
President Donald TRUMP has announced a 25% tariff on imports from Japan and South Korea, effective August 1. The decision, communicated via Truth Social, targets what the administration calls "persistent trade imbalances" with these key allies. Retaliatory measures would trigger further escalations, Trump warned.
The letters framed the tariffs as a corrective measure, stating the 25% levy falls short of what's needed to eliminate trade deficits. "There will be no tariff if companies manufacture goods in the United States," Trump wrote, offering expedited approvals for domestic production. This follows temporary tariff reductions during failed negotiations.
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