US to impose 25% tariffs on Japan, South Korea: Trump

WASHINGTON

US President Donald Trump on Monday announced that Washington will impose a 25% tariff on goods from Japan and South Korea starting on Aug. 1.

Trump posted letters to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung on social media, saying, “Our relationship has been, unfortunately, far from Reciprocal," likely referring to reciprocal tariffs.

He urged both countries to produce their goods in the US as a way to bypass tariffs.

Trump said that the 25% tariff is "far less than" the level needed to fully address the trade deficit imbalance with those countries.

The president also warned that tariffs could be raised above 25% if South Korea or Japan respond with their own tariffs on the US.

"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," he said.

More countries, more tariffs

Trump previously said he would send letters to various countries outlining their specific tariff rates starting Monday, near the Wednesday deadline he had set for trade deals to avoid much higher tariffs from the US.

Trump later announced tariffs on a dozen countries, including 25% on Malaysia, Kazakhstan, and Tunisia, 30% on South Africa and Bosnia and Herzegovina, 32% on Indonesia, 35% on Serbia and Bangladesh, 36% on Cambodia and Thailand, and 40% on Laos and Myanmar.

White House spokeswoman Karoline Leavitt said Trump will sign an executive order Monday delaying his July 9 tariff deadline to Aug. 1.

Leavitt said "approximately 12 other countries" will receive direct notifications and letters from Trump regarding new trade measures today.

"The administration, the president, and his trade team want to cut the best deals for the American people and the American worker," she added.