The US has decided to introduce 25% tariffs on imports from the Republic of Korea and Japan from August 1, announced US President Donald Trump.
He published on Truth Social the texts of messages to the leaders of South Korea and Japan, in which these tariff levels are indicated. It is noted that if Tokyo and Seoul decide to introduce retaliatory tariffs against Washington, the US will increase its tariff rates with respect to the Republic of Korea and Japan. These rates will be increased by the amounts that Seoul and Tokyo decide to determine, Trump warned.
On April 2, Trump announced the introduction of tariffs on products from 185 countries and territories. The universal tariffs of 10% came into effect on April 5, the individual ones - on April 9. On the same day, the US President announced a 90-day suspension of some retaliatory tariffs, which, as the White House explained, is due to trade consultations. During this period, a universal tariff of 10% is in effect. On June 27, Trump specified that the US would notify a number of countries with which it would not sign separate agreements, within about a week and a half, of additional conditions for bilateral trade, i.e., the rates of tariffs on goods supplied by them to the US market.